The contract includes expanding and modernizing a 33/11-kV transformer substation, the delivery, installation and commissioning of several medium-voltage power supply installations, and the renovation of the 11-kV distribution network.
A new load dispatching centre for the capital is also to be constructed complete with control centre, a Siemens statement said.
The German company will also train technical personnel locally and ensure that the power supply is maintained while the network conversion project is implemented.
"With the modernized and expanded network and with sophisticated control centre technology, we will not only be able to offer our commercial and industrial consumers greater reliability and higher quality of the power supply, but better service as well," CEB General Manager D R Pullaperuma was quoted as saying in the statement.
Colombo's power supply system is being modernized and expanded in order to meet the increasingly high standards required for the city's power