Agreement with Chinese company to construct power line

Colombo (News 1st): Sri Lanka has entered into an agreement with a Chinese company for the construction of a 33-kilowatt power line. The project is funded by a loan from the Asian Development Bank. The project will be constructed under 7 phases. Under the 4th phase of the project, 600 km of power lines will be laid. The total cost of the project is US$ 70 million. The funds have been allocated for the project under the loan scheme of the Asian Development Bank for the development of the power distribution sector in the country. The Asian Development Bank will provide US$ 42 million out of the total cost of the project while the rest has to be funded by the government. Speaking at an event today Minster of Power, Energy and Business Development Ravi Karunanayake  had this to say;

"We roughly need about 1200 km of transmission and distribution lines in the next 2-3 years. I was very happy to hear that the generating the capacity of the St. Theresa's is able to quicken the speed of what we thought from transmitting from 2 years to roughly about a one and a half years. And I'm sure that you'll have a challenging task ahead if you really sit and discuss it with the CEB team."