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Indians, Chinese competing for energy projects

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Indian business tycoon Gautham Adani and his team and officials from Sinopec were in town this week to discuss energy projects in Sri Lanka, top officials said.

During President Ranil Wickremesinghe’s visit to India recently, the Adani Group had given a commitment to complete work on the 500 MW Solar and Wind project in Mannar and Pooneryn by January 2025.

“India-SL grid connectivity, Green Hydrogen, Oil pipeline connectivity, and energy sector investments were discussed during the discussions held with Prime Minister Narendra Modi and other officials. The Adani Group was in town to further discuss these investments. Their total investments will be around US$ 2.2 million,” an official said. He added that the Adani Group was very interested in green hydrogen.

Meanwhile, Finance Ministry officials said that the Adani Group was also interested in public transport sectors such as railways and buses. On Tuesday Minister Bandula Gunawardena, Minister of Transport and Highways, said that the Sri Lanka Railway Department is set to undergo a significant restructuring process. While the Sri Lanka Railways (SLR) will not be privatised, the Adani Group may be taken on to make the Railways more productive, a ministry official said.

In other developments, the Sinopec team was in town to discuss the oil refinery, which is around $2.2 million and is to be established in Hambantota, he said.

Sri Lanka and India have entered into a memorandum of understanding (MoU) on renewable energy, Power and Energy Minister Kanchana Wijesekara said recently noting that, “MOUs on Renewable Energy Cooperation, Trincomalee Energy hub development was entered into during the visit (to India) and the energy permit for the Sampur Solar Park was issued for the joint venture between CEB and NTPC of India to commence work.”

(sundaytimes.lk)

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Forests on state lands to be designated as reserves

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The Ministry of Environment has decided to designate several forests located on state owned lands as official forest reserves.

Deputy Minister – Anton Jayakody has stated that such forests, each spanning 05 hectares or more, have been identified in every district.

Special priority will be given to designating forest reserves on mountain peaks.

In the first phase, 20 forests in districts including Monaragala and Ampara have been selected under the new program named ‘Vanaspathi’,  he said.

He further said the initiative aims to protect these forest areas and expand the country’s forest cover.

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No cases filed against 22 banned pyramid schemes – CBSL

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Although the Central Bank of Sri Lanka (CBSL) has banned 22 institutions operating illegal pyramid schemes, no legal action has been taken against any of them so far, according to reports.

This was disclosed during a workshop held at the CBSL yesterday (July 08) on the dangers of pyramid schemes.

According to CBSL officials, after initial investigations, the files were handed over to the Criminal Investigation Department (CID) for further inquiry.

The CID’s Financial Crimes Unit has reportedly completed its investigations and submitted findings to the Attorney General’s Department, which is responsible for filing cases.

However, it was noted that not a single case has been filed to date.

The CBSL states that investigations will be continued against companies engaged in these illegal practices and hopes at least one or two such cases would be filed by the end of this year or early next year (2026).

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NPP’s Nishantha Jayaweera sworn in as MP

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U. D. Nishantha Jayaweera was sworn in as a National People’s Power (NPP) National List Member of Parliament before the Speaker of the House – Dr. Jagath Wickramaratne, today (July 09).

He fills the Parliamentary seat left vacant following the resignation of Dr. Harshana Suriyapperuma last month.

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