Sorrylanka is testing INdian Patience in lot of issues..
Differences have arisen between NTPC and Sri Lanka s CEB over payment of security and sovereign guarantee on a proposed 500MW joint venture coal-based thermal power plant in Sri Lanka
Differences have arisen between India s largest power generation company NTPC Ltd and Sri Lanka s Ceylon Electricity Board, or CEB, over payment of security and sovereign guarantee on a proposed 500MW joint venture coal-based thermal power plant in Sri Lanka.
The project has been planned as an equal venture with the CEB, involving an investment of $500 million (Rs2,490 crore).
A senior NTPC executive said the company wanted the project s chief financial officer, from the state-owned Indian utility, to preside over any situation involving a default on the part of CEB. Speaking on condition of anonymity, the executive said CEB, on the other hand, wants such an eventuality to be handled by the board.
Since they (CEB) will have an equal representation on the board, it will never be able to approve it, said the executive, who did not want to be identified because of the sensitivity of the issue.
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