Coal Supplier Pulls Out citing payment guarantee risk

COLOMBO (News 1st) - Minister of Power and Energy Kanchana Wijesekara said that the Coal Tender awarded on August 25th was cancelled by the Cabinet yesterday (22).

"The selected supplier has communicated the inability to perform the tender sighting concerns on the impact on legal cases filed & payment guarantee risk", Minister Wijesekara tweeted.

Further Lanka Coal Company will publish a new International Open Competitive Tender that will allow any suitable supplier that can provide Coal on a long-term credit basis.

"To fulfill the immediate requirements, the balance of 19 Cargos from last year's tender will be advanced", Minister tweeted.