Tag: Industry

June 12, 2006 (LBO) – The Sri Lankan government is to ink a deal with Lanka Indian Oil Corp, towards the end of this month, to amend the petroleum pricing formula, officials said. “The small changes to the pricing formula are part of the agreement we reached with the Sri Lanka government on settling the […]

May 11 (LBO) – Sri Lanka began construction of it first coal power plant on Thursday in Norachcholai on the island’s West Coast, amidst protests by environmental lobbies. The 300 Megawatt plant is being built at a cost of 455 million dollars, largely funded by a 20-year concessionary loan from the China Export and Import […]

Feb. 20 (LBO) – India’s Reliance group is scouting for investment opportunities in Sri Lanka, with an eye on oil exploration in potential areas off Mannar on the Western coast, officials said Monday. Two rounds of seismic surveys have shown that Sri Lanka has potential oil reserves in the Cauvery Basin off the west coast, […]

The Asian Development Bank says it is willing to stay on in the power sector, despite the government missing its second deadline for a US$ 60 million loan.The Asian Development Bank says it is willing to stay on in the power sector, despite the government missing its second deadline for a US$ 60 million loan. […]

Jan 21 (LBO) – Sri Lanka’s power utility is heading into the dry season with its reservoirs full, translating into savings on expensive thermal bills and no power shortages on the cards. Last week, Victoria, the country’s largest reservoir, spilled for the first time in over five years, and water levels are topping 80 percent […]

Battle between the board and the management at the monopoly power utility CEB intensified as engineers objected to the board calling for reasons from the General Manager for his conduct.Battle between the board and the management at the monopoly power utility CEB intensified as engineers objected to the board calling for reasons from the General […]

Battle between the board and the management at the monopoly power utility CEB intensified as engineers objected to the board calling for reasons from the General Manager for his conduct.Battle between the board and the management at the monopoly power utility CEB intensified as engineers objected to the board calling for reasons from the General […]

Sri Lanka has sent out feelers to the Indian government for fresh round of supplier credit, as soaring world crude prices pushes fuel subsidy payments to US$ 200 million this year.Sri Lanka has sent out feelers to the Indian government for fresh round of supplier credit, as soaring world crude prices pushes fuel subsidy payments […]

Sri Lanka’s cash strapped Treasury will forego Rs. 7 billion in revenue as the government scraps the value added tax component on diesel with immediate effect, officials said.Sri Lanka’s cash strapped Treasury will forego Rs. 7 billion in revenue as the government scraps the value added tax component on diesel with immediate effect, officials said. […]

Sri Lanka’s cash strapped Treasury will forego Rs. 7 billion in revenue as the government scraps the value added tax component on diesel with immediate effect, officials said.Sri Lanka’s cash strapped Treasury will forego Rs. 7 billion in revenue as the government scraps the value added tax component on diesel with immediate effect, officials said. […]

Government and trade union talks on Ceylon Electricity Board (CEB) restructuring collapses and trade unions call for mediation by the Prime Minister again.Government and trade union talks on Ceylon Electricity Board (CEB) restructuring collapses and trade unions call for mediation by the Prime Minister again. Over the past month trade unions, lending agnecies and government […]

Developers of power plants say the sector is losing credibility with investors because of regular policy U turns and delays in project approval.Developers of power plants say the sector is losing credibility with investors because of regular policy U turns and delays in project approval. Investors last week encouraged the government to go ahead with […]