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Indian Adani group to invest in SL green hydrogen and solar power plants

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By: Staff Writer

Colombo (LNW): Indian Billionaire Gautam Adani’s conglomerate is set to invest heavily in renewable energy and port development projects in the island pledging to set up a green hydrogen plant in Sri Lanka, where his conglomerate is already developing a container terminal and a 500 MW wind project.

Adani met visiting Sri Lankan President Ranil Wickremesinghe to discuss ongoing projects and the new venture.

The Adani Ports and Special Economic Zone (APSEZ) is developing a US$ 700 million container terminal at Colombo Port, which is a major transshipment hub in South Asia.

The Adani group is also developing the Vizhinjam seaport project in Kerala, just 176 nautical miles from the Colombo port.

The conglomerate’s renewable energy firm, Adani Green Energy, is setting up two wind projects of 286 MW in Mannar and 234 MW in Pooneryn at an investment of $500 million. The projects are to be completed by December 2024.

The Adani Group’s recent meeting with the Minister of Energy marks the first formal dialogue since US-based Hindenburg Research made allegations against the Indian conglomerate, which it has categorically denied. T

he Adani Group’s venture into the country’s energy sector complements its previous investments in the port of Colombo’s Western container terminal. Gautam Adani, the group’s chief, met with former Sri Lankan President Gotabaya Rajapaksa in October 2021 to discuss the company’s investment plans in the country following the Colombo port deal.

This deal represents Sri Lanka’s first major foreign investment since it declared bankruptcy following an economic crisis last year. According to a statement from the Sri Lankan Board of Investment, the project will create between 1,500 and 2,000 new jobs.

The announcement comes as Sri Lanka is grappling with rolling power outages, resulting from the country’s struggle to generate adequate amounts of thermal and coal power.

This has spurred the government to expedite the development of renewable energy projects. In an effort to secure a $2.9 billion bailout from the International Monetary Fund (IMF) as it struggles to navigate its worst financial crisis in over seven decades, the island nation has increased power prices by a significant 66%recently.

At Colombo Harbour, the only deep-sea container port between Dubai and Singapore, the company is constructing a 1.4-kilometre, 20-meter-deep jetty immediately adjacent to a Chinese-operated terminal.

The development follows a stock crash in which Adani Group lost $120 billion in market capitalisation after the US-based investment research firm Hindenburg accused the company’s subsidiaries of accounting fraud and price manipulation in January 2023.

In 2019, a Chinese company was given a USD 12 million contract from the Asian Development Bank to construct three wind farms on islands in the Palk Strait, which separates India and Sri Lanka. However, New Delhi objected to the proposal, and it was cancelled.

China, SL to cooperate in space science and Land-Sea Trade Corridor

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By: Staff Writer

Colombo (LNW): China’s Chongqing municipality is willing to enhance cooperation with Sri Lanka on the New International Land-Sea Trade Corridor and strengthen collaboration on poverty alleviation, said a Chinese official.

Sri Lankan President and leader of the United National Party Ranil Wickremesinghe met here Saturday with Yuan Jiajun, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and secretary of the CPC Chongqing Municipal Committee.

Noting that the two countries are a model for friendly co-existence and win-win relations between countries with different systems, Yuan said China is willing to join hands with the Sri Lankan side at all levels to push to a new level the bilateral strategic cooperative partnership featuring sincere mutual assistance and lasting friendship.

He said the CPC is willing to continue strengthening exchanges and mutual learning with Sri Lankan political parties, and to contribute to the development of bilateral relations and their respective national development.

Yuan added that Chongqing stands ready to boost cooperation with Sri Lanka on the New International Land-Sea Trade Corridor, jointly enhance the level of openness and development, strengthen collaboration on poverty alleviation, and better promote the high-quality economic and social development of the two countries.

Sri Lanka is willing to cooperate with China to strengthen their all-round practical cooperation, deepen interparty and sub-national exchanges, promote the high-quality joint construction of the Belt and Road, and welcome investors from Chongqing to invest in Sri Lanka, said Wickremesinghe.

China and Sri Lanka can cooperate in space science as Southern Sri Lanka has been identified as an area with the lowest gravity in the world and the Southern Ocean is most suitable for the landing of spacecraft, Prime Minister Dinesh Gunawardane said during a meeting with a Chinese high-level delegation at Temple Trees today.

The delegation led by the Chongqing CPC Municipal Committee Secretary Dr. Yuan Jiajun, who is also a member of the Communist Party of China’s (CPC) Central Committee Politburo called on the Prime Minister at Temple Trees.

The Prime Minister thanked China for the support in agriculture, industry, education and other fields.

Noting that Dr. Yuan Jiajung is a top rocket scientist, the Prime Minister said the two countries could cooperate in space science as Southern Sri Lanka has been identified as an area with the lowest gravity in the world and the Southern Ocean is most suitable for the landing of spacecraft.

Sri Lanka becomes Global Biofuel Alliance founding member

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By: Staff Writer

Colombo (LNW): Sri Lanka has taken a significant step toward promoting sustainable energy solutions by becoming a founding member of the Global Biofuel Alliance.

The Cabinet of Ministers this week approved the proposal presented by the Power and Energy Minister Kanchana Wijesekera, solidifying Sri Lanka’s commitment to advancing bio-fuel adoption and cooperation on a global scale. 

The alliance aims to foster collaboration among leading bio-fuel producers and consumers, including countries such as Brazil, India, the United States, and other interested nations. By joining forces, these countries seek to promote the sustainable use of biofuels, especially in the transportation and energy sectors.

The announcement was made during the India Energy Week in February 2023, where India, as the current G20 Presidency, unveiled plans to establish a global bio-fuels alliance.

 India, as the driving force behind the alliance, seeks the participation of all nations to join this collaborative initiative. Sri Lanka was also extended an invitation to sign the founding document and become a founding member of the Global Biofuel Alliance.

 This membership solidifies Sri Lanka’s commitment to advancing sustainable energy solutions and demonstrates the country’s dedication to environmental stewardship.

“This will be a great stepping stone for Sri Lanka in diversifying its energy sources, reducing dependence on fossil fuels, and contributing to global efforts to combat climate change.

It will also help the electricity users to move into cleaner energy and bring down their bills,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said that the post-Cabinet meeting media briefing.

The Global Bio-fuel Alliance aspires to create a platform for knowledge-sharing, market development, and the exchange of best practices in biofuel production and utilisation.

 The alliance will facilitate global biofuel trade, encourage the development of optimal policies, and provide technical assistance to nations seeking to implement biofuel practices.

By working together, member countries will accelerate the transition to cleaner and more sustainable energy sources, reducing greenhouse gas emissions and mitigating the impact of climate change.

India launched the Global Biofuel Alliance, an ambitious initiative aimed at fostering international collaboration and accelerating the development and adoption of biofuels.

The official announcement of this groundbreaking alliance came during the Clean Energy Ministerial Meeting in Goa on July 22, 2023, with a formal launch planned at the G20 Leaders’ Summit in New Delhi in September this year. Nineteen countries  including Sri Lanka are standing with India on this.

Having achieved its 10 percent ethanol blending target, also known as E10, five months ahead of schedule in June 2022, India now sets its sights on an even more ambitious objective: achieving a 20 percent blend, or E20, by the end of 2025.

 Ethanol is a vital biofuel and plays a pivotal role in reducing India’s dependence on fossil fuels while curbing carbon emissions and air pollution.

Today’s (24) official exchange rates reveal further depreciation of LKR

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Colombo (LNW): The Sri Lankan Rupee has further depreciated against the US Dollar in comparison to last week, as revealed by the official exchange rates list issued by the Central Bank of Sri Lanka (CBSL) today (24).

Accordingly, the buying price of the US Dollar has increased to Rs. 321.10 from Rs. 318.72, and the selling price to Rs. 334.55 from Rs. 331.98.

The Sri Lankan Rupee has also depreciated against several other foreign currencies, including Gulf currencies.

Norwegian Embassy in Colombo to close soon

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By: Isuru Parakrama

Colombo (LNW): The Norwegian Embassy in Colombo will close on July 31, 2023, the Embassy announced in a social media remark.

It added that all diplomatic affairs will be handled by the Norwegian Embassy in New Delihi, and urged the public to follow its official Facebook Page.

Whilst Visa related matters are being handled by the Scandinavian country’s colleagues in New Delhi, a VFS office in Colombo where applicants can hand in their documents will be still operational, the Embassy said in response to queries.

“The Norwegian Embassy in Colombo will close on 31 July 2023. From 1 August, the Norwegian Embassy in New Delhi will be responsible for Norway’s bilateral relationship with Sri Lanka and the Maldives. This Facebook page will be closed. We invite you to follow the page of the Norwegian Embassy in New Delhi for more updates on our ongoing cooperation with India, Sri Lanka and the Maldives!” the Embassy wrote.

Batch of locally produced Aspirin withdrawn

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Colombo (LNW): The Ministry of Health has instructed the officials to immediately remove a batch of locally produced Aspirin from use in hospitals, following reports of a quality defect identified.

The production company in question has been notified and requested to provide relevant information about the incident, said Dr. Saman Ratnayake, Additional Secretary to the Ministry.

Measures have been taken to seize the imports of this batch, and despite the action, there will be no shortage of Aspirin, he added.

LG Employees to be made permanent: State Minister

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Colombo (LNW): The government will be taking measures to make the employees of the local government bodies whose employment statuses remain uncertain permanent permanent soon, said Provincial Councils and Local Government State Minister Janaka Wakkumbura.

Accordingly, those employed on contractual-basis, freelance-basis and others at the LG bodies will be made permanent, and the process of collecting information in this regard has already commenced, the Minister revealed.

As of now, about 12,000 vacancies are available in LG bodies, and the permanent appointments will be granted to fit these vacancies, Wakkumbura assured.

Currently, there are about 10,000 non-permanent employees in LG bodies, he added.

Top Economist Amal Sanderatne passes away

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Colombo (LNW): Amal Eran Herath Sanderatne, top economist and the founder and CEO of Frontier Research, has passed away at the age 47.

Sanderatne is reported to have died after falling off the fifth floor of an apartment complex in Colombo yesterday (23).

Police have launched an inquiry into the death of the economist, and are currently determining what exactly happened leading to his death.

Sanderatne’s Frontier Research is a company that provides macro-economic research.

Sri Lanka Original Narrative Summary: 24/07

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  1. President Ranil Wickremesinghe to convene an All-Party meeting on Wednesday at the President’s House: The meeting is expected to address a number of matters of importance, including the 13th Amendment to the Constitution and initiatives to be implemented for the promotion of national harmony.
  2. President Ranil Wickremesinghe instructs officials to expedite the Anuradhapura Sacred Site Development Plan, giving priority to the Maha Viharaya Development Plan; adds a Committee consisting of a team of experts from the National Physical Planning Department, the Department of Archaeology, and Universities will be appointed to implement the Maha Viharaya Development Plan.
  3. The Auditor General’s Department launches a special probe into the use of substandard medicines, following reports on a number of incidents in the Health Sector surrounding controversy: Auditor General W.P.C. Wickramaratne says previous investigations on the NMRA and the Health Ministry revealed significant information about the use of substandard and unregistered drugs; asserts the Parliament Committee on Public Business also discussed the matter; adds a separate probe into the computer system related to the purchase and distribution of medicines will also be conducted.
  4. The new circular issued by the Health Secretary censoring health officials from providing information to the media without prior consent of the department heads meets with immediate backlash: Health professionals allege the circular is against the freedom of speech and expression of health workers; reveal the communique in question fails to mention the provisions of the Establishment Code which concern the representatives of trade unions or health professionals’ associations; urge Health Secretary to provide an explanation and revoke it immediately.
  5. Power and Energy State Minister D.V. Chanaka says the first fuel shipment of China’s Sinopec, which signed a contract to enter the Sri Lankan fuel market, will arrive in the country early next month; asserts steps will be taken to replace the fuel price formula with a maximum retail price, thereby creating a fuel competitiveness that benefits the country; assures a MRP will be stipulated to all fuel companies under the price formula from August.
  6. Trade Minister Nalin Fernando says the two leading LP Gas companies must comply a price formula and sell gas at the same prices; warns any attempt to violate this requirement will be met with legal action; laments private vendor LAUGFS had not taken any steps to slash its gas prices subsequent to its state-run competitor LITRO.
  7. The SYU together civil movements organises a protest and a cultural concert in remembrance of a number of events in the history of Sri Lanka that affected national unity, including the 1983 “Black July”: The event was led by SYU member Eranga Gunasekara and JVP former MP Bimal Rathnayake: Police fire water cannons to disperse the protest.
  8. Several train trips scheduled for yesterday and today have been cancelled owing to the strike action launched by the Railway Engine Drivers’ Association concerning an issue related to the duty rosters of engine drivers.
  9. Immigration/Emigration Dept laments a number of incapacities are evident in accessing the new online system established for obtaining passports: Failure to properly place the fingerprints, non-submission of adequate bio data, and failure to comply with the procedure in submitting the relevant documents online the most frequent; urges the public to contact the Dept itself or the nearest Divisional Secretariat to resolve any problems pertaining to the submission of applications and follow the correct procedure.
  10. Minister Bandula Gunawardena says whatever the government in power in the country, Sri Lanka is legally bound to settle foreign debts at maturity till 2048; adds SL has to repay foreign debt of US$ 36 billion and only 37% of them mature within the next five years; asserts 51% of the total foreign debt matures in 6-20 years and the rest 12% after 20 years.

Special notice for anyone applying for passports online

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By: Isuru Parakrama

Colombo (LNW): A number of incapacities are evident in accessing the new online system established for obtaining passports, and the failure to properly place the applicants’ fingerprints, the non-submission of adequate bio data, and the failure to comply with the procedure in submitting the relevant documents online are the most frequent among them, the Department of Immigration and Emigration said.

In the backdrop, only about 3,700 passports could be proceeded for issuance out of about 35,000 applications submitted online, lamented Controller of Immigration and Emigration Harsha Ilukpitiya.

The Dept, therefore, urged the public to contact the Dept itself or the nearest Divisional Secretariat to resolve any problems pertaining to the submission of applications and follow the correct procedure in applying for passports.

Anyone can visit the official website of the Department of Immigration and Emigration and follow the guidelines for submitting applications via the online system.