Norochcholai power plant:

CEB ready to pay outstanding loan to Treasury

The Ceylon Electricity Board (CEB) recently relieved the Government Treasury of the debt burden of the Norochcholai power plant and agreed to repay the outstanding loan of Rs 155 billion beginning from 2015, said Power and Energy Minister Patali Champika Ranawake.

The Minister said financial reports of the CEB finance division showed that it had earned an operational profit during the three months from June to August this year. The operational profit were June - Rs 205 million July - Rs 355 million and August - Rs 1,331 million. The CEB's projected loss this year is estimated at Rs. 40 billion. He is determined to reduce this loss by almost half by the end of this year, the Minister said.