News
Foreign Ministry mum on Russian proposal to build cost effective advance nuclear reactor
By Rathindra Kuruwita
Sri Lanka has capable engineers to operate a nuclear power plant and these power plants are very safe, Prof. S.R.D. Rosa, Chairman, Sri Lanka Atomic Energy Board (SLAEB), said during a recent seminar organised by the Institution of Engineers Sri Lanka (IESL) on ‘Potential of nuclear energy and its challenges in Sri Lanka.’
Prof. Rosa said that many erroneously believed that Sri Lanka did not have the human resources to operate and maintain a nuclear power plant.
“Of course, if we start a nuclear power plant we will have to get help from others initially. We need to work on public perception because many people assume nuclear power plants explode all the time. Nothing can be further from the truth.”
Rosa said nuclear power plants were regulated strictly. The SLAEB had started to amend the Lanka Atomic Energy Act as the current Act does not permit nuclear power plants in the country, he said.
“If we are going for nuclear power the Act has to change and the government has started the amendment process. This is chaired by Justice Sobitha Rajakaruna and I am also a member. We hope to finish the amendments by July,” he said.
Rosa added they have received a number of proposals to construct nuclear plants in Sri Lanka. Russia’s Rosatom, China’s China National Nuclear Corporation (CNNC), France’s Électricité de France (EDF), and Denmark’s Seaborg have submitted proposals. USA’s Ultra Safe Nuclear Corporation (USNC) and Canada’s Atomic Energy of Canada Ltd (AECL) have expressed willingness.
“The proposal from Russia is a very comprehensive and a complete proposal. Russia is building two nuclear power plants in Bangladesh and one in Kudankulam, India, which is only about 207 kilometres from Kalpitiya. I think the Russians also want us to join their regional efforts. We had many discussions with Rosatom officials, including many Zoom sessions, and finalized the proposals. To finalize this, we need to sign intergovernmental agreements (IGA). We sent the proposal to the Foreign Ministry six or seven months back, but we still have not got an answer. It’s probably because of the Russia-Ukraine war and IMF, etc.”
Sri Lanka has also received a complete proposal from China and representatives from CNNC visited Sri Lanka about two months ago. The CNNC officials met SLAEB and even brought a prototype, Rosa said.
“EDF, too, has sent a proposal. We then have a unique proposal from Denmark. Seaborg Technologies is a private Danish startup. They are building barges or floating nuclear power plants. Seaborg Technologies is working on building power plants in Vietnam, and Indonesia and wants to build a third one for Sri Lanka.”
Rosa said USNC and AECL have sent proposals of willingness, but they are not complete or comprehensive proposals. Sri Lanka now has received six proposals. Seaborg has offered a power barge, Russia has offered Sri Lanka both onshore and offshore power plants, while the others have proposed conventional nuclear power plants, he mentioned.
“We have to also think about the prices. There is no point in building a nuclear power plant if the unit cost is about 60 rupees. The problem is that no one gives the exact price unless you sign a Non-Disclosure Agreement (NDA) or a Memorandum of Understanding (MoU). Russians have offered us several options, depending on our requirements. If we go with the offshore plant, Russians will build and bring if here and we will have to sign a 10- or 20-year MoU. We have asked the price but they have not given us an exact price. However, we looked at the nuclear power plants Russians have built in Bangladesh, the unit price is between 27 to 30 Sri Lankan rupees.”
He added that China and Russia are the only countries that have successfully built operational Small Modular Reactors (SMRs), advanced nuclear reactors that have a power capacity up to 300 MWs per unit.
Rosa said that they have prepared a Cabinet paper and that they have asked the government to take a “strategic and visionary” decision on generating electricity from nuclear power as a policy. They have also asked the government to invite expressions of interest from government institutions of suitable countries producing nuclear power plants compatible with the technical, economic, social, environmental and legal conditions of Sri Lanka and that can provide an integrated solution, including fuel cycle options and radioactive waste management options.
“We want a clear-cut policy approval from the government. We asked the government and they have approved. Since we have so many proposals, what the government said was to ask for Expressions of Interests (EOIs). Because if we only go with Russians there would be complications. Some may not like it. The Cabinet has also approved the decision to call EoIs. We had already prepared the EoI and since we have got the Cabinet approval, we can go for it.”
Rosa added Sri Lanka needs nuclear power to have a stable source of energy and that nuclear power plants would complement renewable energy.
“My personal opinion is that we should go for an offshore nuclear power plant first and then move to an onshore power plant. This is not the stance of the SLAEB. This is because selecting a land may be an issue because of public perceptions. Another thing to consider is that Thorium-based nuclear power plants are becoming very popular. India has a lot of thorium. Even Sri Lanka has a lot of thorium,” he said.
The price of oil has fallen to levels not seen since before the Iran war as traffic through the key Strait of Hormuz shipping route gradually resumes.
Global benchmark Brent crude briefly fell below $72.48 (£55) a barrel, the price it was at the day before the US and Israel launched attacks on Iran on 28 February, before edging up to $73.23.
Energy prices have been on a wild ride since Iran responded to the strikes by effectively closing the strait, a critical waterway for oil and gas shipments.
The cost of crude has been moving sharply lower since the US and Iran signed a Memorandum of Understanding (MOU) on 17 June which set out a 60-day period for negotiations on Tehran’s nuclear programme and other measures to end the war.
Representatives from the two sides met in Switzerland last weekend for talks to end the war, which resulted in the US partially lifting sanctions on Iranian oil exports.
The number of vessels crossing the Strait of Hormuz has risen significantly since the MOU was signed, according to maritime intelligence firm Kpler.
Its latest data suggests 284 vessels have made the transit from 18 June, the day after the deal was signed, although that is is still well below the pre-conflict average of some 138 crossings each day.
The ships passing through the waterway in recent days include those carrying crude oil, liquefied natural gas (LNG), fertiliser and other goods, Kpler told the BBC.
The US and Iran had also formed a “communication line” to prevent misunderstandings “with the aim of safe passage for commercial vessels through the Strait of Hormuz”, mediators Qatar and Pakistan said in a joint statement on Monday.
There has been a “tremendous shift” with far more ships using the strait in recent days, said Dimitris Maniatis, the chief executive of Marisks, a maritime risk advisory firm working with ships stuck in the region.
A limited number of ships can cross a northern passageway with the permission of Iranian authorities, he said.
The US navy has also provided guidance for vessels to travel through a southern route that is safe from mines and other obstacles that has been laid out since the war, Maniatis said.
But the number of ships crossing the strait is still below levels seen before the war, when it was used by more than 100 ships a day.
Hundreds of ships still appear to be waiting in the Gulf.
Fuel prices at the pump rose sharply when the Iran war began, and now the focus is on how quickly they will fall.
“On the back of the lowest oil price since before the Iran war started, drivers should see the average price of petrol fall below 150p [a litre] in the next week or so,” said Simon Williams, head of policy at UK motoring group the RAC. He added the price of diesel “ought to go back under 160p.
Petrol peaked at 159.53p a litre on 28 May, according to the RAC, while diesel has fallen from a high of 191.54p on 15 April.
The average price of regular gasoline in the US has dropped to around $3.93 a gallon after reaching $4 a gallon in April, its highest since 2022, but is still well above pre-war levels.
US President Donald Trump on Wednesday ordered an investigation into major energy companies, accusing Shell, ExxonMobil and other firms of “gouging” drivers by not reducing fuel prices even as oil costs fell.
“Oil prices have come down so much and we are not seeing anything at the pump by comparison the way they should be,” Trump told reporters in the Oval Office.
The American Petroleum Institute, which represents the oil and gas industry in the US, said fuel prices “don’t move in lockstep with crude oil”.
British energy firms have faced similar accusations of unfairly hiking petrol prices since the Iran war.
The UK competition watchdog said last month that there was no widespread evidence of this, adding that average profit margins were “broadly unchanged” between February and March
(BBC)
Representatives from the ’The Ceylon Chamber of Commerce’ met with Prime Minister Dr. Harini Amarasuriya on Wednesday [24th of June] at the Parliament premises.
During the meeting, discussions focused on the Sri Lanka Economic and Investment Summit 2026 (SLEIS 2026), which is scheduled to be held on 12 and 13 October 2026. Attention was also given to digitalization initiatives, the introduction of digital technologies in schools under new education reforms, and the transformative role of Artificial Intelligence (AI) in Sri Lanka’s education sector.
Representatives of the Chamber noted that the summit would serve as an important platform for encouraging both local and foreign investment, while also contributing to the shaping of the country’s future economic policies.
The meeting was attended by Krishan Balendra, Chairman of The Ceylon Chamber of Commerce; Vinod Hirdaramani, Deputy Vice Chairman; Shiran Fernando, Secretary General and Chief Executive Officer; Aliki Perera, Deputy Secretary General and Chief Operating Officer; and Anagi Rodrigo-Weerasekera, Chief Economist and Head of Economic Intelligence, along with several other representatives.
[Prime Minister’s Media Division]
A discussion to review the progress of the housing project under which 4,700 houses are being constructed for the Malayagam community with Indian assistance was held this afternoon (24) at the Presidential Secretariat under the chairmanship of the Chief of Staff to the President, Prabath Chandrakeerthi.
Under this housing programme, 2,026 houses are to be provided to families identified by the National Building Research Institute (NBRI) as being at disaster risk. The remaining houses are expected to be allocated to eligible workers residing in the plantation sector.
Accordingly, the houses will be provided to Malayagam community families living on estates belonging to 22 Regional Plantation Companies, as well as estates under the State Plantations Corporation, Janawasama and Elkaduwa Plantations.
For the construction of each house, the Government of India has allocated Rs. 2.8 million, while the Government of Sri Lanka has contributed Rs. 400,000.
During the discussion, Chandrakeerthi instructed officials to ensure that the housing project is completed before the end of this year. He further directed that land identified for the construction of houses be released without delay and that the National Building Research Institute provide the necessary reports to identify suitable land for the project.
The housing project is being implemented jointly by the Ministry of Plantation and Community Infrastructure, the National Housing Development Authority, the State Engineering Corporation and the Plantation Human Development Trust.
Among those present were Additional Secretary (Development) of the Ministry of Plantation and Community Infrastructure, K. S. Wijayakeerthi; Director General (Engineering), N. D. N. Pushpakumara; Director General (Planning), W. A. K. S. Damayanthi; the Secretary General of the Planters’ Association; and officials from the National Housing Development Authority, the State Engineering Corporation, relevant institutions and plantation companies.
(PMD)
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