Wednesday, August 19, 2009

BOI grabs wind power

The Board of Investment of Sri Lanka granted investment approval to four companies for investments worth US $ 68 million.

Two investment agreements worth US $ 37 million were signed with two companies to set up two wind power plants at Vidatamunai and Seguwantivu in Puttalam respectively.

The two wind power plants will supply 20 megawatts of power to the national grid. The ventures will utilize 13 and 12 wind turbines imported from Spain at Vidatamunai and Seguwantivu respectively.

The BOI also signed agreements worth US $ 6.5 million with two companies to construct and operate a dry port at Orugodawatta. The venture will provide facilities for the Sri Lanka Customs to examine all inbound cargo from the terminal. The companies will provide railway infrastructure to transport cargo from the Colombo port to the terminal. It will be constructed in a 10 acre land and will provide facilities to examine 250 containers at any given time.

Another agreement signed with a company to construct a residential complex at Rajagiriya. It is an investment of US $ 25 million sponsored by investors from Iran. The complex will include 240 apartments in 3 towers constructed in a 180 perch land.
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