|Wednesday, 17 April 2002|
Power project relocated in Horana
The 20 Megawatt (MW) power project to be constructed by Ace Power Generator Anuradhapura (Pvt) Ltd has been relocated in Horana.
Managing Director, Hatton National Bank, Rienzie Wijetilleke said that they had earlier made plans to have this project in Anuradhapura but had to shift it to Horana due to reasons beyond their control. The HNB is the arranger and the lead banker to finance the project. "The plant at Anuradhapura came to a standstill last June. We have re-negotiated for a new site at the Perth Estate in Horana, within the BoI zone," he said.
The signing of the amendments for the syndicated facility agreement and security document to incorporate the relocation of the power plant from Anuradhapura to Horana was held last week. The agreement was signed by officials of Ace Power Generator Ltd, and bank.
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