NTPC, Ceylon Electricity Board incorporate JV in Sri Lanka

A joint venture that would set up a 500 Mw coal-based power plant in Sri Lanka has been incorportated by India's NTPC and the Ceylon Electricity Board.

In a regulatory filing, NTPC said the joint venture entity named the Trincomalee Power Company was incorporated on September 26. “The joint venture Company shall set up 2×250 Mw coal-based power project in Trincomalee Region in Sri Lanka,” it added.

Earlier this month, NTPC signed a joint venture pact with Ceylon Electricity Board to set up a 500 Mw coal-based power plant in Sri Lanka. The plant, which is estimated to see an investment of up to US $700 million, would come up at Sampur in Trincomalee.

It will have a capacity of 500 Mw with two generating units of 250 Mw each. There is also a possibility of enhancing the capacity by another 500 Mw. The project is expected to go on stream by 2016 and would help in meeting the rising demand for power in Sri Lanka.