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China to invest USD 700 mn in LNG power plant

24 May 2018 03:40 am - 11     - {{hitsCtrl.values.hits}}

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Development Strategies and International Trade Minister Malik Samarawickrama said yesterday the government had cleared a proposal for Chinese investment worth 700 million US dollars to build an LNG power plant in Hambantota.

Addressing a symposium at the Chinese Embassy, he said it would be a Foreign Direct Investment (FDI) to put up a plant for the generation of 400 megawatts of electricity.

Asserting that Sri Lanka and China relations were excellent at the moment, he said China was bound to become the world's leading economy before 2050. Therefore, he said it would be beneficial for Sri Lanka tie up with China. He asserted that Sri Lanka would fully cooperate with the Belt and Road Initiative begun by China.

Referring to the proposed Free Trade Agreement with China, he said the government intended to sign it soon. The minister said there were many other investment proposals by China in the works that would also be looked into.  (Kelum Bandara)

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  Comments - 11

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  • Sumane Thursday, 24 May 2018 10:28 AM

    Stop continuous begging from the world with this fancy word "foreign investments". Start doing something productive for your motherland rather than looting it. We have enough sun throughout the year. Start putting up solar panels on every roof of the country. If you can't do things please get out..

    BuffaloaCitizen Thursday, 24 May 2018 10:36 AM

    You fight a war with immense destruction to your own people, property, wealth of the nation to deny your own citizens of a morsel of autonomy to their genuine areas of historical habitation. Instead you give full sovereignty for 99 years of thousands of acres land in SL to a nation with a different culture lying many thousands of miles from here, for the simple reason you are shitting scared to stand up to him and refuse point blank. What a cowardly double twist country.

    Nadaal Thursday, 24 May 2018 10:41 AM

    Ha ha ha. Kiss the hand you can’t cut ha? The administration should have realized this fact at the offset and cooperated with them instead stopping all their projects and subsequently paying huge amounts as compensations.

    Hope Thursday, 24 May 2018 10:43 AM

    Yeah, never think of the sustainable future of the country and never invest on renewables :) Way to go :D

    sanjewa Thursday, 24 May 2018 11:35 AM

    Ridiculous about that guy talked about solar power plan , plz do the comment after ur education.

    wow Thursday, 24 May 2018 12:39 PM

    So awarding without any Tender procedure? Does anyone smell something fishy is going on?

    Jo Friday, 25 May 2018 01:21 PM

    Yes why no tenders. All projects are unsolicited. These guys said unsolicited is corrupt.

    Ceylon Thursday, 24 May 2018 12:55 PM

    This hole allways telling future plans.never did anything.idiot you tell what did.

    citizen Friday, 25 May 2018 05:13 AM

    Is there a electricity shortage in SL? We have sufficient energy for our need, then why again getting into the 'trap'? Oops sorry... "Foreign investment" Lol

    TONY Friday, 25 May 2018 09:37 AM

    WOW 700 M. PEANUTS????

    Don Friday, 25 May 2018 02:31 PM

    We need solar power. Stop relying on fossil fuels. The only reason we don't invest in solar power is there no way to get commission from the sun.


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