In a written reply to parliament, the minister said a joint venture company, Trincomalee Power Co Ltd (TPCL), had been created for the project with 50:50 equity participation from NTPC and CEB.
The Sri Lankan Attorney General's office recently approved NTPC's first overseas project proposed to be constructed at Sampur in the eastern district of Trincomalee.
An official statement here said the entire power produced from the project shall be purchased by CEB under the power purchase agreement to be signed between TPCL, CEB and the Sri Lankan government.
The project is estimated to cost about USD 500 million. The plant would use imported coal and consists of a transmission line to be built from Trincomalee to Madurai in Tamil Nadu.
--IANS (Posted on 08-08-2013)