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| Sunday, 10 October 2004 |
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| News Business Features Editorial
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Norochcholai back on track by Anton Nonis Power and Energy Minister, Susil Premajayantha pointed out a coal power project which was to be installed in Norochcholai was running behind schedule by six years. However, President Chandrika Bandaranaike Kumaratunga has given approval to go ahead with the task without any further delay. Any protests, whatsoever, will be ignored. Premajayantha said that a feasibility study for the project was done at a cost of Rs.500 million. Clearance from the environmental authorities too was obtained. A colossal funding of US$ 600 million was made available by the Japanese Overseas Bank has now been forfeited. According to the Ceylon Electricity Board (CEB) Chairman, Ananda S. Gunasekera, the Norochcholai project is to come up in three stages. Once it is completed, it would add 900 Mw to the national grid. The engineers have to complete stage I within three or four years, in 2009. Stage I will add 300 Mw to the national grid. The estimated cost is around US$ 600 million, according to Gunasekera. He said that the Treasury is spearheading the task of finding funding agencies. Asked whether Japanese funds were still available, Minister Premajayantha replied, "that does not exist now. But they have to be persuaded." The present installed capacity for both, hydro and thermal stands at 2500 Mw out of which 1250 Mw is hydro. The balance is thermal together with three Mw being wind. According to estimates by the CEB, the annual demand for power increases at the rate of eight per cent. |
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