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Sunday, 22 June 2014

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Renovation work on the main tunnel of the New Laxapana hydro power plant was completed last week and water was released at an auspicious time on Friday. The 18,014-foot long tunnel carries water from the Canyon pond to the power plant which has a capacity of 116 Mw. This power plant was commissioned in 1974 and this is the first renovation of the tunnel in the past 40 years. A concrete structure was constructed to close a cavity and weak rock layers in the tunnel to seal the huge water leak that was estimated at 230 litres per second, causing a yearly loss of Rs.130 million as a result of declined power generation capacity. Here, the civil engineer of the Laxapana Generating Station of the Ceylon Electricity Board, Irosh Fernando and the team on a final inspection, a day before the water was released. Pic: Sudam Gunasinghe

‘MICE sector poised for greater growth’

The MICE (Meetings, Incentives, Conference and Exhibition) industry will achieve a revenue of around US $ 200 million this year, with the increase in the number of international events in Sri Lanka every year, said Sri Lanka Convention Bureau, General Manager Vipula Wanigasekera.

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Call to lower lending rates

The Central Bank has called upon banks to lower market lending rates to reflect decline in interest rates on bank deposits. The monetary policy review issued by the Monetary Board said that deposit rates have reduced to anticipated levels,

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SLASSCOM launches ‘CampusDirectLink’

Sri Lanka's IT and knowledge service industry body, SLASSCOM, last week launched ‘CampusDirectLink’, an online system that brings together Sri Lankan corporate information technology sector, universities and higher educational institutions, to actively engage in project ideas.

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Adequate paddy stocks despite adverse weather

There are adequate stocks of paddy, despite a sharp drop in harvests across the country due to adverse weather said Minister of Agriculture Mahinda Yapa Abeywardena. He said that around 200,000 farmer families had been affected due to the adverse weather this year and added that vast acres still need to come under the plough.

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