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Friday Sep 20, 2024
Monday, 20 March 2017 00:04 - - {{hitsCtrl.values.hits}}
The Asian Development Bank (ADB) is to lend Sri Lanka $ 279 million for two major projects in power and wastewater management in Mannar and Colombo.
ADB has granted a loan of $166.6 million for the second phase of the construction of the Mannar-Nadukuda transmission line under the Green Energy Development and Energy Efficiency Improvement Investment Program.
The project, which was given Cabinet approval last week, would be used to conduct a transmission line of 30km from Mannar to Nadukuda. The Cabinet paper submitted by Power and Renewable Energy Minister Ranjith Siyambalapitiya awarded the contract for the project to KEC International Ltd. at a cost of Rs.1.37 billion, as was recommended by the Standing Cabinet Appointed Procurement Committee.
KEC International Ltd. is India’s second largest manufacturer of electric power transmission towers and one of the largest power transmission engineering, procurement and construction companies in the world.
The second project will get an ADB loan of $ 112.83 million and will be used for the Great Colombo Water and Wastewater Management Improvement Investment Programme Project (Phase III). Part of the loan will be used for provision of new gravity sewers, force mains, and pump stations for the Kirula catchment area.
The decision was made by Cabinet to award the project to Larsen & Toubro Ltd. at a cost of Rs.7 billion, the Cabinet paper submitted by Provincial Councils and Local Government Minister Faiszer Mustafa noted.
