FRs against Yugadhanavi share transfer fixed for 16th,17th December

FRs against Yugadhanavi share transfer fixed for 16th,17th December

FRs against Yugadhanavi share transfer fixed for 16th,17th December

Written by Zulfick Farzan

29 Nov, 2021 | 10:51 am

COLOMBO (News 1st); The Fundamental Rights applications filed with the Supreme Court against the transfer of shares of the Yugadhanavi Power Plant will be taken up for consideration in the presence of a five-judge bench led by the Chief Justice, on the 16th and 17th of December 2021.

The applications were called up in the presence of Chief Justice Jayantha Jayasuriya and Justices Buwaneka Aluvihare, Priyantha Jayawardena, Vijith Malalgoda, and L. T. B. Dehideniya on Monday (29).

The Attorney General told the court that limited objections will be filed with regard to these applications.

The Court ordered for those objections to be filed on the 6th of December, and for counter-objections to be filed on the 13th of December.

In September 2020, New Fortress Energy Inc. announced that they executed a definitive agreement for New Fortress’ investment in West Coast Power Limited (“WCP”), the owner of the 310 MW Yugadanavi Power Plant based in Colombo, along with the rights to develop a new LNG Terminal off the coast of Colombo, the capital city.

New Fortress will acquire a 40% ownership stake in WCP and plans to build an offshore liquified natural gas (LNG) receiving, storage, and regasification terminal located off the coast of Colombo.

The FR applications were filed with the Supreme Court challenging the Cabinet Decision to transfer 40% of the power plant to the US-based company, and the application seek the decision to be made null.

Archbishop of Colombo, His Eminence Malcolm Cardinal Ranjith, the Janatha Vimukthi Peramuna, the Samagi Jana Balavegaya, and several other factions filed applications with the Supreme Court.

The Prime Minister, Cabinet of Ministers, Cabinet Secretary, The Chairman of the Ceylon Electricity Board are among the 48 respondents named in these applications.

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