Private bank to finance 15 per cent of Broadlands Hydro-Power Project
30 July 2013Continuing its pivotal role in funding Sri Lanka's vital infrastructure development, Hatton National Bank (HNB) recently tied up with the Ceylon Electricity Board (CEB) to partly finance the ambitious Broadlands Hydro-Power Project, which will add 35MW to the national grid.
The construction of the Broadlands Power Station has been given high priority since is it renewable engergy which is imperative for the development of the country.
Over 85 per cent of the project will be by way of a loan from the Government of China, while the balance 15 per cent as a loan from HNB. The CEB signed loan agreements with ICBC Bank China and HNB in this regard in Colombo recently.
The dam will be constructed in Kitulgala in the Kegalle District using the Kelani River and the power plant will be constructed in Yatiyanthota in the Kegalle district.
The dam will be 24m in height and 114m long. The tunnel of the complex will be 3.5km long and 5.4m in diameter.
"One key area of HNB's expertise is funding the country's infrastructure development projects by providing commercial loans under strategic tie-ups, said Ruvini Thenabadu, Deputy General Manager, Corporate & Wholesale Banking.
