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Friday, November 20, 2009 - 5.27 GMT |
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Phase II of
Puttalm Coal Power Project to commence soon |
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The
Phase II
of the
Puttalm
Coal
Power
Project
will be
commenced
soon
with the
government's
decision
to enter
into a
Loan
Agreement
with the
Export-
Import
Bank of
China to
borrow a
sum of
US$ 891
million
for its
financing.
The
Government
of China
has
agreed
to
extend a
Preferential
Buyer’s
Credit
Facility
through
the
Export
Import (Exim)
Bank of
China
for the
implementation
of the
Project.
With an
objective
of
generating
900MW
and
providing
it to
the
National
Grid,
the
Puttalm
Coal
Power
Project
was
originally
planned
for 111
Phases.
First
phase of
the
project
is being
implemented
successfully
with
financial
assistance
from the
Exim
Bank of
China
under a
Preferential
Buyer’s
Credit
Loans of
US$ 300
million
and a
Buyer’s
Credit
Loan of
US$155
million.
Under
the
Phase I
of the
project
a 300MW
power
plant
together
with
jetty
for coal
handling,
transmission
line
from
Norochcholai
to
Veyangoda
and
substation
at
Veyangoda
will be
constructed.
Phase I
is
scheduled
to be
completed
at the
end of
2010.
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