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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » LOLC’s Group’s Browns Investments eyes coal supply deal to Norochcholai

LOLC’s Group’s Browns Investments eyes coal supply deal to Norochcholai

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samaritan


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Browns Investments, a unit of LOLC Group, expects to enter into a negotiations with the Sri Lankan authorities to secure an unsolicited bid to supply coal to Norochcholai power plant after the party who was awarded the contract to supply coal backing out.
Browns Investments in a filing to the Colombo Stock Exchange (CSE) yesterday said it submitted an unsolicited proposal together with China Machinery & Engineering Corporation (CMEC) on August 12 in line with a n Cabinet decision to call for solicited, unsolicited and government to government proposals for the procurement of 4.5 million MT of coal for Norochcholai power plant through Lanka Coal Company.
Having learnt of the failure of the selected bidder to supply, Browns Investments had written to the Minister of Power and Energy on September 8, 2022 that CMEC-Browns consortium is able to ensure uninterrupted supply of coal to the country.

https://www.dailymirror.lk/breaking_news/LOLCs-Groups-Browns-Investments-eyes-coal-supply-deal-to-Norochcholai/108-244846

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