Sri Lanka, Sept. 9 -- The Board of Investment (BOI) of Sri Lanka has registered its Agreement with Sahasdhanavi Limited for the development of a 350 MW combined cycle power plant at the Kerawalapitiya Industrial Zone.

The Agreement was registered on August 13, 2026, under Section 17(2) of the BOI of Sri Lanka Law No. 4 of 1978.

The project involves an envisaged investment of US$291.19 million, comprising US$90 million in share capital, US$196.19 million in loan capital and US$5 million from other sources. The investment will cover fixed assets and working capital.

The plant, to be developed on a Build-Own-Operate-Transfer (BOOT) basis, will supply electricity directly to the national grid and is expected to create 1,147 employment opp...