Connect with us

News

SL will save Rs. 12 billion annually with commissioning of Kerawalapitiya LNG Power Plant

Published

on

By Ifham Nizam

Prime Minister Mahinda Rajapaksa assured that the whole country will have access to electricity before the end of this year.

“Ninety nine per cent of the population have electricity at present. There are only 84,000 families who still don’t have access to power”, the premier said at the inauguration of the construction of the Kerawalapitiya Liquefied Natural Gas (LNG) Power Plant with a capacity of 350 MW, on Friday.

 The Prime Minister stressed that the objective of the government is to provide electricity at a competitive price using modern technology in the world.

Power and Energy Minister Dullas Alhaperuma said that the price of a unit of electricity generated through conventional diesel power plants is between Rs. 25-30.

 The unit price of electricity further increases to between Rs. 30-45 when emergency purchases are required during periods of high demand.

 The unit price of electricity produced at the Kerawalapitiya Natural Gas Power Plant, which has now commenced construction would cost only Rs. 15, he noted. 

Alhaperuma said the new power plant has the potential to generate 13% of the country’s current electricity demand or 2,000 million electricity units annually, saving Rs. 12 billion annually to the country.

 It will save the country Rs. 240 billion over a period of 20 years, he said.

 He also said that the new power plant to be constructed at Kerawalapitiya-Wattala has been designed in accordance with international standards with a minimal impact on the environment.

The power plant will be equipped with a F- class gas turbine which has very high efficiency compared to other gas turbines installed in the country.

The Kerawalapitiya Power Plant is a combined cycle power plant and will be completed in two phases.

 CEB Chiarman Eng. Vijitha Herath said that the first phase, or the installation of a gas turbine, will generate 220 MW, which will be completed within 21 months and synchronized to the national grid.

 He said that the second phase will add a further 130 MW to the national grid via a steam turbine, which is expected to be completed within 12 months. The plant will augment Sri Lanka with a total capacity of 350 MW over the next three years.

 Lakdhanavi is responsible for the investment, engineering design, construction, commissioning, maintenance and operation of the new power plant. Lakdhanavi, which is a subsidiary of LTL Holdings Group, a local company since 1996. It is an industry leader synonymous with the construction of qualitative and feasible power plants in Sri Lanka as well as in South Asia, Bangladesh, the Maldives, Nepal and the Middle East and East Africa.

The Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) have agreed to provide financial assistance for the construction of the power plant.

Just as low-cost power generation is significant for the future development of Sri Lanka, the construction of low-cost power plants is equally essential, industry officials remarked.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

BASL calls for conscience vote on 22nd Amendment

Published

on

The Bar Association of Sri Lanka (BASL) yesterday called on all political parties, represented in Parliament, to allow their members to vote on the proposed 22nd Amendment to the Constitution according to their conscience, stressing that the responsibility for deciding whether the Bill should be enacted now rests with Parliament.

In a statement issued after the Supreme Court’s determination on the 22nd Amendment Bill, BASL President Rajeev Amarasuriya and General Secretary Nalin de Silva have said the SC’s determination should not be interpreted as an endorsement of the proposed constitutional amendment as a matter of policy.

The BASL has said the SC’s jurisdiction, under Articles 120, 121 and 123 of the Constitution, was to determine the constitutional requirements for the enactment of the Bill, including whether the Bill, or any of its provisions, required approval at a referendum under Article 83.

“The determination is therefore not a determination as to whether the proposed amendment is good or bad policy, desirable or undesirable, wise or unwise, or whether Parliament ought to enact it,” the BASL said.

Full text of the BASL statement: The Supreme Court has now delivered its Determination on the Twenty-Second Amendment to the Constitution Bill and determined that the Bill does not require the approval of the People at a Referendum.

In terms of Articles 120, 121 and 123 of the Constitution, the jurisdiction of the Supreme Court in relation to the Bill is to determine the constitutional requirements for its enactment, including importantly whether the Bill, or any provision thereof, requires the approval of the People at a Referendum by virtue of Article 83.

The Determination is therefore not a determination as to whether the proposed Amendment is good or bad policy, desirable or undesirable, wise or unwise, or whether Parliament ought to enact it.

This distinction is also evident from Sri Lanka’s previous constitutional amendments. During the 48 year history of the second republican Constitution there have been many amendments which passed constitutional muster but nevertheless had a negative effect on democracy, constitutionalism, the independence of the judiciary and the rule of law.

The question that now arises is whether Parliament ought to enact the proposed Amendment. That responsibility rests with Parliament and with each individual Member of Parliament when they vote on the Bill.

In making that decision, Members of Parliament should be mindful of the possible and probable consequences the 22nd Amendment will have on our nation. They should also consider the lack of transparency and a proper consultative process in the introduction of the 22nd Amendment. As representatives of the people they should also consider the concerns that have been expressed in relation to the proposed Amendment by a broad cross-section of society including the Maha Nayakes of the Three Nikayas, the Catholic Bishops’ Conference in Sri Lanka, the Church of Ceylon, the Bar Association of Sri Lanka, the Judicial Service Association, the Commonwealth Lawyers Association, LAWASIA, the International Association of Judges, the United Nations Special Rapporteur on the Independence of Judges and Lawyers, the French National Bar Council, and more than 40 Professional Associations and Unions, including the Government Medical Officers’ Association and other leading professional bodies.

Accordingly, the Bar Association of Sri Lanka calls upon all the political parties in Parliament to allow the Members of Parliament to speak and vote on the 22nd Amendment according to their conscience.

The responsibility now lies with Members of Parliament, when called upon to vote, to take a principled position according to their conscience giving due consideration to their constitutional responsibility, their representative capacity and most importantly their duty to the sovereign People of Sri Lanka.

Continue Reading

News

IMF: Sri Lanka on course for 2027 market return

Published

on

SL to regain access to international financial and capital markets next year in line with IMF projections

Sri Lanka is on course to regain access to international financial and capital markets around 2027, in line with the International Monetary Fund’s (IMF) current economic projections, IMF Mission Chief Evan Papageorgiou said yesterday.

Papageorgiou said the IMF’s core assumptions under Sri Lanka’s economic programme continued to envisage the country returning to international capital markets in 2027.

“Our previous assumption that Sri Lanka will go back to capital markets still stands. We still have a good trajectory to achieving this in 2027 or thereabouts, and that should be the goal,” he said.

Papageorgiou stressed that Sri Lanka could not rely solely on domestic sources of financing to build long-term economic resilience and would need a diversified funding strategy.

“Every country needs to have a good ability to access funds both in domestic markets, as it already has, as well as international markets for eurobonds and other modes,” he said.

He said a return to international capital markets would have significant implications for Sri Lanka’s external debt composition, while strengthening foreign exchange reserves would remain essential as the country prepares to meet future debt-servicing obligations.

The IMF’s assessment comes amid improving international investor sentiment towards Sri Lanka and positive developments in the country’s sovereign credit ratings.

Papageorgiou cited Fitch’s recent upgrade of Sri Lanka’s credit rating as a positive development, saying global investors were increasingly viewing the country from a more constructive perspective.

Sri Lanka remains under the IMF’s Extended Fund Facility (EFF) programme, which is scheduled to continue until March 20, 2027. Regaining access to international capital markets remains a key milestone under the country’s broader economic recovery.

The IMF has stressed the importance of rebuilding Sri Lanka’s foreign exchange buffers and maintaining stability in domestic financial markets as the country approaches substantial external debt repayments.

A sustained improvement in these areas would help strengthen the country’s capacity to return to international markets while safeguarding macroeconomic stability, the IMF has indicated.

Continue Reading

News

President appoints three new judges to High Court

Published

on

From Left: New HC judges Perumal Sivakumar, Anandi Kanagaratnam and Gnanesha Lalith Kannangara receiving their letters of appointment yesterday from the President

President Anura Kumara Dissanayake yesterday (23) handed over appointment letters to three Special Grade officers of the Judicial Service as High Court Judges, at a ceremony held at the Presidential Secretariat, according to the President’s Media Division (PMD).

The new appointees are Perumal Sivakumar, District Judge of Jaffna; Anandi Kanagaratnam, Senior Assistant Secretary of the Judicial Service Commission; and Gnanesha Lalith Kannangara, District Judge of Colombo.

The three senior Judicial Service officers will take up duties as High Court Judges following their appointments.

The appointments were made from among Special Grade officers of the Judicial Service, the PMD said.

Continue Reading

Trending