January 13, 2018, 7:51 pm  The Island

Energy sector stakeholders last week expressed concern over the inordinate delay in awarding the bid for the proposed multi-billion rupee 300MW Kerawalapitiya – II Power Plant.

Proposals were opened in April 2017 and though eight months have lapsed, there is still no forward movement, they said. “The fast track project has become an off track one, and the delay has already resulted in a loss of Rs. 12.4 billion”.

Earlier, fears were expressed that the proposed power project was to be awarded to a foreign company, which could have translated into a loss of a staggering Rs. 204 billion as bidders offering more competitive tariffs were apparently sidelined.

The matter was brought to the notice of the President and the Prime Minister, they said, as, if the bid was pushed through, the loss would have been much bigger than the bond scam.

Senior CEB engineers also expressed their reservations about awarding the bid to the Korean company as the margin between the lowest and second lowest bidders worked out to a stupendous Rs. 34 billion, they said