US$ 120 mln investment for development of sustainable power sector
The Government will implement a Sustainable Power Sector Support project in line with the government’s target of providing electricity to all households by end of 2012.
The Asian Development Bank (ADB) has agreed to provide financial assistance of US$ 120 million for the implementation of the Project.
The project will contribute to a reliable, adequate and affordable power supply for balanced and sustainable economic growth in Sri Lanka and increase electricity connections in rural areas, specifically in the Eastern, North Central, Southern and Uva Provinces, stated the Ministry of Finance and Planning.
The total investment cost of the project is US$ 162.03 million (Rs 17,553 million) of which US$ 42.03 million (Rs 4,553 million) will be provided by the government, the Ministry added.
It also said the Ceylon Electricity Board (CEB) and Sustainable Energy Authority (SEA), under the Ministry of Power and Energy will be the project implementing agencies.
The project is scheduled to be completed by 30th April 2014.
Source: Government News Portal
Latest Headlines in Sri Lanka
- Sri Lanka Navy ship P628 begins historic 14,775 nautical mile voyage to Sri Lanka February 23, 2026
- Sri Lanka Police arrest suspects in major fraud case impersonating officers February 23, 2026
- Oxford Union cancels Namal Rajapaksa speech after student opposition February 23, 2026
- 100,000 Litro gas cylinders to be released today to ease shortages in Sri Lanka February 23, 2026
- Sri Lanka to grant pension rights to public servants recruited since 2016 February 22, 2026
