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CF acquired a 57% holding of the Mark Marine Services Ltd hydropower plant at Carolina Estate, Watawala. The facility, which was developed at a cost of Rs. 230 million has a generating capacity of 2.7 MW. The exceptional location both in terms of hydrology and geological dimensions has enabled the plant to operate at efficient level and has recorded the highest capacity usage in the year 2001 among the other mini hydro power plants currently in operation, despite the adverse whether conditions which prevailed during this period.

The turbines used by this project are from world renowned Gilbert Gilkes & Gordon Ltd of UK which has a reputation for efficiency and reliability.

They account for a wealth of 150 years experience with an excellent reputation as market leaders in Mini Hydro Turbine Technology.

Compared to other substitute power supply methods to the national grid this is one of the most environmentally friendly non-hazardous power plants which has obtained approvals from the Central Environmental Authority and other regulatory bodies.

Based on the results achieved and the projections, very attractive long-term returns are anticipated for the group from this investment.

This is the third hydropower project the Company has invested in. The others being Rakwana and Delgoda - through Zyrex power. With this project CF contribution to the national grid increases up to 5.9 MW. Central Finance Co. Ltd incorporated in 1957 operates through its head office in Kandy, City Office in Colombo and 24 strategically located branches and Marketing offices. Widely diversified into areas ranging from Financial Services to Manufacturing and the Company enjoys market leadership in leasing. Central Finance is proud to be in the position of paving the way for further success. A company spokesman said, "The success of our company is mainly due to the longstanding strong relationship we have with our customers and shareholders. Our mission is to provide customers with the best financial solutions while fulfilling shareholder objectives."

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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