Sri Lanka needs investments coming in, not going out: Chamith Wijesundera

Published : 13 February 2025 04:47 pm Views - {{hitsCtrl.values.hits}} 27 Bookmark

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Colombo, Feb 13 (Daily Mirror) - While describing Adani Green Energy's decision to withdraw from its wind energy project in Sri Lanka as not a good sign for the country, National Organizer of the SJB Youth, Chamith Wijesundera said that Sri Lanka needs investments coming in, not going out.

Earlier today, Adani Green Energy announced it had decided to pull out of the energy project in Mannar, with the group informing Sri Lanka of its board's decision.

This comes after United Petroleum Lanka's announcement last week that it will cease operations in Sri Lanka.

In response to Adani's move, Wijesundera said that, given the current situation, no investments will come to the region.

"Pointless giving speeches at economic forums when companies are leaving Sri Lanka. We need investments coming in and not going out. Second big project wants to pull out from Sri Lanka. With what's going on, no investments will come our way in the region. Not a good sign for Sri Lanka" he shared on X.

Comments - 27

Comments - Sri Lanka needs investments coming in, not going out: Chamith Wijesundera

Sunil Gunasekera Thursday, 13 February 2025 05:01 PM

Sri Lanka needs quality investments by companies of high ethical standards, free of corruption and a genuine desire to help society. Not dodgy investments like Adani and another South Indian investment for a oil refinery in Hambanthota during your Yahapalanaya time and Money Launderer called Krish investment in the prestigious Transworks House once the office of Sir John Kotelawala as Minister of Transport and Works. ALL DODGY INVESTMENTS MUST BE KICKED OUT.ONLY REPUTED COMPANIES WITH HIGH ETHICAL STANDARDS SHOULD COME IN.

3 18

Ruvani Goonewardene Friday, 14 February 2025 03:39 AM

We certainly do need investments coming in , but we don’t need to take any investment which is detrimental to Sri Lanka coming in . Glad you’re not in power

1 1

Gunapala Friday, 14 February 2025 04:45 AM

Recently approved Sinopec Hambantota refinery project is the biggest ever foreign investment in the country. Do you believe Chinese govt owned Sinopec has high ethical standards?

1 1

Crazy8 Thursday, 13 February 2025 05:08 PM

What a big brain this guy must possess to come up with such a brilliant idea! I can clearly see why he has chosen no other party but the SJB!

3 28

Nilupul Thursday, 13 February 2025 05:10 PM

When young people like you talk on the surface without looking into why this project was not viable in detail, what can we expect from your elders? Investments for the sake of investments are detrimental if they don't add value to Sri Lanka in parity to other similar projects. You must surely be on the investors side but at least that doesn't come as a surprise.

2 17

Nilupul Thursday, 13 February 2025 05:10 PM

When young people like you talk on the surface without looking into why this project was not viable in detail, what can we expect from your elders? Investments for the sake of investments are detrimental if they don't add value to Sri Lanka in parity to other similar projects. You must surely be on the investors side but at least that doesn't come as a surprise.

1 11

Amda Thursday, 13 February 2025 05:57 PM

Send this man to Bangladesh to see what is done there, Money is not free, it is for profit and it is not clean always.

0 15

Solar panels Should Be Installed Everywhere Thursday, 13 February 2025 05:59 PM

SL needs genuine investments and not half baked ones benefiting minorities. Windmills maintenance is costly and lifespan is around 20 to 30 years. Solar panels using AI technology will be a solution to counter these windmills!

3 8

Gokula Siripathiarachchi Friday, 14 February 2025 04:39 AM

What do you mean by solar panels using AI? BTW solar panels become inefficient when they heat up over 25C also even though Sri Lanka has sun light all year around the irradiation (energy available per unit area) is not that high. Plus Solar panels do not produce power at night where as wind turbines do. Also Solar panels take up land area which is scarce in our small island. Wind turbines can be installed in the sea. So your argument of using solar panels with AI is very simplistic.

1 0

S P Friday, 14 February 2025 06:45 AM

We saw last week what happens when solar is propagated without having a strong source of firm power to back it up. The advantage of Adani project comes with the possibility of interconnection to the strong Indian grid. If you are against it then fine we will be condemned to live with frequent planned and unplanned black outs. Tourism, industry and public inconvenience all will be eroded. If that’s what you want so be it!

0 1

karu Thursday, 13 February 2025 06:14 PM

Investment for whom > you and Ravi K clan >?

2 15

Peter Perera Thursday, 13 February 2025 06:23 PM

All the expats who voted for the present government could start investing in our country. Some shows how wealthy they are living in overseas.

0 8

Raja Kapuru Friday, 14 February 2025 02:38 AM

Yes bring the promised dollars and start up the promised funds

0 0

INTERESTING TO SEE WHAT HAPPENS FROM HERE, NOW THAT THE PRESIDENT HAS RETURNED INTO THE COUNTRY. Thursday, 13 February 2025 06:38 PM

THE NATIONAL ORGANIZERS MESSAGE IS ABSOLUTELY SPOT ON. WE THE PEOPLE HOPE THAT ADANI WILL RECONSIDER THEIR DECISION TO WITHDRAW FROM ITS WIND ENERGY PROJECT IN SRI LANKA. THE GOVT NEEDS TO REALISE THAT CHEAP THINGS ARE NO GOOD AND IF HIS GOVT INTENDS WIPING OUT CORRUPTION AND WILL HAVE NO CORRUPTION IN HIS GOVT, THIS NEEDS TO BE SORTED OUT BEFORE ADANI WALK AWAY AND WE FIND CHINA COME IN DUMPING THEIR CHEAP QUALITY PRODUCTS AND TENDERING MUCH LOWER THAN ADANI.

11 6

Knowing facts Thursday, 13 February 2025 10:52 PM

Do you know why Adani pulled out - they wanted us to pay US$ 0.08cts per unit while they were sending excess generated to India at 0.045cts per unit. New Govt insisted we pay same but they pulled out. Ranil and Kanchana were ready to give in.

2 1

Rip Winkle Thursday, 13 February 2025 06:53 PM

Did you do your math, boy? Adani would've been ripping off Sri Lanka's electricity consumers in time to come had he been awarded this project.

4 11

Sena Friday, 14 February 2025 09:40 AM

So true. These fellows are always criticizing everything without any understanding of the underlying deal itself. The original project would have meant that Sri Lankan taxpayers would have been paying hyperinflated price per kWh. The deal was signed by a previous Govt. with no doubt some politicians benefitting personally from the agreement. Glad this NPP Govt. decided to re-negotiate the rate.

0 1

A Concerned Citizen Thursday, 13 February 2025 08:55 PM

Sri Lanka needs corruption going out and not corruption coming in.

2 16

US Aid Friday, 14 February 2025 02:40 AM

It is a world wide phenomenon

1 0

Channa Thursday, 13 February 2025 09:30 PM

Dont distort the facts. The Mannar project has been challenged in the Supreme Courts on environmental grounds by the environmentalists. There are two or three cases pending inquiry. Adani must have realized that his position is not strong with the pending cases. NPP Govt decision to renegotiate the tariffs is a totally different aspect as the finalized rates were extremely high and not comparable even in the rates in the region. Also, note that Adani has not announced the withdrawal from his other power project in Poonaryn. That project will also be scrutinized with respect to the tariffs as again the offered (and, agreed by the then Govt) are exorbitantly high.

2 13

Patcitz Thursday, 13 February 2025 10:19 PM

Mind it, AKD's election promises were fulfilled on behalf of the people, who wanted to chase Adhani Group, a Tamil LTTE TERRORIST sympathizer. The people are willing to accept investment coming in, but will never wish to invite the Tamil TERRORISM once again into this peaceful Sri Lanka.

0 1

Shibu Thursday, 13 February 2025 10:24 PM

Adani market capitalisation is $200 billion and revenue of US$4.8 billion in 2024 It is big company it can execute any project timey and with greater efficiency. If srilanka don't w the projects it a losss for u . environmentalist in lanka want to bloc the projects .They are for living for the birds not for the country . Adani wants to execute the projects in timely manner they don't wants to be part of many cases happening in srilanka . because time is money for them .for the stupid environmentalists they never think of nation .srilanka is poor country they have to think about the people before the birds . Well developed countries think about more environments because people are having good living standards and they have sufficient electricity.. low income srilanka Think like europian countries and make the country into more under developed .. if any issue with tarif discuss it and make a better deal . Any business group invest they need profit no one comes as charity

0 8

Exlankan Friday, 14 February 2025 01:20 AM

Change the banking laws. No one wants to invest because it is hard to take foreign currency out of the country without jumping hoops and even then it is capped at a certain limit. Make it convenient to get the paperwork done for business. It is so hard to find information and get approvals. No wonder good investors are avoiding SL.

0 4

Exsrilankaninvestmentbanker Friday, 14 February 2025 09:54 AM

Agree, as a former Sri Lankan, our banking laws are meant to discourage inward investment. Expatriates any gains full or partial is next to impossible. Sri Lankan Diaspora will not invest kn SL because of backward policies. However thieves like the Rajapoxy bastards golfer funds and export the same at a cost to SL.

0 0

Exsrilankaninvestmentbanker Friday, 14 February 2025 09:54 AM

Agree, as a former Sri Lankan, our banking laws are meant to discourage inward investment. Expatriates any gains full or partial is next to impossible. Sri Lankan Diaspora will not invest kn SL because of backward policies. However thieves like the Rajapoxy bastards golfer funds and export the same at a cost to SL.

0 0

Chathu Friday, 14 February 2025 03:53 AM

Good Investments should come, not these. Please go an read some news on dealings these Adani groups have done over the years. When they realize they no longer can bribe the new govt, they leave. I sometimes don't understand how people like you get even elected. Why do Sri Lanka keep producing illiterate people, why?

0 1

Sena Friday, 14 February 2025 09:53 AM

Yes, and these illiterate fellows always go chasing after political appointments. These are the future politicians of Sri Lanka. Thick as bricks! No wonder our nation as fallen behind.

0 0

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