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Plans to set up natural gas hub in Trinco

20 January 2017 06:27 am - 4     - {{hitsCtrl.values.hits}}

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Cabinet approval has been sought to establish a Liquefied Natural Gas (LNG) Hub terminal and Storage at the Trincomalee Port for export by Energy World International Ltd, a leading company headquartered in Hong Kong, it is learnt.

It is also seeking approval to hand over a 30 acre land on lease for 30 years to the company. This global company submitted a business proposal first way back in 2012 to seek approval. However, the Attorney General observed that the scope of the project was in conflict with the Sri Lanka Electricity Act.

Later, the Sri Lanka Ports Authority sought this Company to establish a joint venture with the local authorities for investment. The proposed investment is US $ 300 million.

A Cabinet Appointed Negotiating Committee and a project committee will evaluate the proposal for this project and submit recommendations.(Kelum Bandara)

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  Comments - 4

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  • spirit Friday, 20 January 2017 06:59 AM

    Background for ICTA is coming up. Beware!

    Henry Friday, 20 January 2017 07:28 AM

    What a bullshit news! SF is dreaming of offering Trinco Port to India on a plate [Today's News] May be it's his Grandfather's property. The said International may be another company formed for this purpose as was done by Mahendra and his son-in-law on CB bond issue!

    Independent Friday, 20 January 2017 08:17 AM

    Even for the oil exploration in middle east they got help from developed countries. It is better to get use of it rather than keeping it. Let's negotiate for a proposal that is beneficial for the country. Let's go forward as a country. Hope the Joint Thiefs won't push back everything that the govt do by showing a bogus patriotism towards the country.

    ceylon Friday, 20 January 2017 03:38 PM

    plan plan plan.when these plans plans plans impliment and people can see results . via DM Android App


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