Japan grants $200M loan for Sri Lankan substation projects
Sri Lanka, Colombo: The Government of Japan will grant Sri Lanka a $200 million loan for the implementation of National Transmission and Distribution Network Development and Efficiency Improvement Project.
Sri Lanka, Colombo: The Government of Japan will grant Sri Lanka a $200 million loan for the implementation of National Transmission and Distribution Network Development and Efficiency Improvement Project.
The project includes an upgrade and construction of new substations with power transformers and associated electrical equipment, as well as transmission and distribution lines, all of which is expected to enhance capacity of national transmission and distribution network located in Greater Colombo area and its surroundings and contribute to the improvement of energy reliability and efficiency in the country, reports Colombo Page.
According to Sri Lankan Ministry of Finance, the demand for electricity has grown in Sri Lanka at an average rate of 5% – 7% a year during the last decade, and this growth is further continuing with the economic development of the country. The overall annual demand for electricity is estimated to increase by around 4% – 6%.
Source: Colombo Page
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