The Minister said so while participating at an experts’ forum in Colombo yesterday entitled ‘poisonous food leading to a silent death’.
On this occasion the Minister pointed out further that the country’s electricity consumers are at a loss as a result of this agreement.
The project is estimated to cost about $500 million (`3,000 crore), with NTPC and Ceylon Electricity Board having 50% stake each. It would be funded with a debt equity ratio of 70:30.
The plant would use imported coal and consists of a transmission line, to be built from Trincomalee to Madurai, including 39 km of submarine cable.