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| Sunday, 24 November 2002 |
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Venkatesh Industries to invest Rs. 20.91 billion in Trinco Venkatesh Industries (Ceylon) Ltd is setting up a Rs. 20.91 billion Metallurgical Coke and Power Plant at Trincomalee which would be the single largest private investment in Sri Lanka up to date. The project will also include a jetty for cargo handling and a desalination plant to handle its day to day water requirements and to provide water to the surrounding areas as a social and community service project. The company will produce 750,000 metric tons of low ash low sulphur Met. Coke per annum, 110 Mw of Electricity and 2400 m3 water per day. The Plant will use the latest, third generation "Clean" technology from Thyssen Krupp Encoke, Germany for producing Metallurgical Coke and Co-generation of Power. The Co-generation plant will use non-conventional energy resources for generating electricity. Heat in waste gases from the Coke Ovens will be recovered in special heat recovery boilers while the coke breeze i.e. coke rejects be fired in a separate circulating fluidized bed combustion boiler to generate steam. This steam will be used to generate 110 Mw of electric power in a steam turbo generator. The Metallurgical Coke produced will be exported mainly to India and other countries. The value of exports at current market prices will be Rs. 6.65 billion per annum and Rs. 133 billion over the useful life of the project. The project will benefit greatly from the FTA agreements that Sri Lanka has with countries in the region. From the power generated, 805 million kwh units will be supplied per year to the Ceylon Electricity Board and will help meet the growing electricity demand of the country. The cost of the power will be the lowest from any independent power producer.The project will be a first of its kind in Asia and the second in the world, the first of its kind operation in USA. |
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