The Ceylon Electricity Board (CEB) is in the final stage of negotiating a $ 50 million loan from Beijing-based Asian Infrastructure Investment Bank (AIIB) for a major power project which was abandoned by Japan, following the Government’s cancellation of the Colombo Light Rail Transit (LRT) Project, The Sunday Morning reported.
The project is the urgently needed “Greater Colombo Transmission and Distribution Loss Reduction Project Phase II”, and CEB Chairman Eng. Vijitha Herath told The Sunday Morning on Friday (04) that he is confident the discussions would be finalised soon and the project would commence as soon funds are mobilised. He expects construction to be completed within two years.
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