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US firm slated for Yugadanavi plant operations – JVP

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Speaking at a press conference yesterday at the JVP Headquarters, Dissanayake said Cabinet approval had been obtained on Monday to hand over 40 per cent shares of the Yugadanavi Plant to a US Company.

Currently, its shares are held by the Treasury and four other State institutions.

He said the Treasury Secretary had signed an agreement for the above purpose with the US-based New Fortress Company. The Yugadanavi Power Plant is 300 megawatts and another 300 megawatt

LNG plant is being constructed at the same premises as an extension. There are plans to increase the total capacity of the Plant to 1,000 megawatts in 2025. MP Dissanayake accused that this proposed move negatively affect national security and the country’s economy.

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