The 50/50 joint venture will begin construction at Sampur in Trincomalee, in late 2012 and is expected to be commissioned in 2016, CEB chairman Wimaladharma Abeywickrama said.
The plant is structured as a build operate own (BOO) project.
Sri Lanka's power ministry secretary MMC Ferdinando said the plant would cost 500 million US dollars. He said 15 percent of the project cost would be from equity and the balance would come from multilateral and bilateral lenders and commercial sources.
The shareholder agreement was inked Tuesday in Colombo.
India's power secretary Umar Shanker said in a financial closure would be in achieved in the next few months. India is giving a 200 million loan to Sri Lanka's government to cover CEB's equity, jetty and interconnection to the national grid.
http://www.lbo.lk/fullstory.php?newsID=922509396&no_view=1&SEARCH_TERM=45