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Sri Lanka’s Lanka Ventures invests in Bangladesh power

Sept 11, 2013 (LBO) - Lanka Ventures Plc, a unit of Sri Lanka's Acuity Partners, group said it had invested 2.
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0 million US dollars in a 52.2 MegaWatt heavy fuel power plant in Bangladesh.
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Acuity Partners is owned by Sri Lanka's DFCC and HNB banking groups.
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Raj Lanka Power Company Ltd, promoted by Sri Lanka based Lakdhanavi has struck a 15-year deal to supply power bo Bangladesh Power Development Corporation, the firm told shareholders in the annual report.

It has received concessions including a 15 year tax holiday.

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Lanka Ventures has other investments in hydro and wind power in Sri Lanka.

During the past year it has invested in Nala Dhanavi (Pvt) Ltd, which has built a 5MW wind plant in Sri Lanka's Kalptiya peninsula. Lanka Ventures has taken a 49 percent stake in the company for 242 million rupees.

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The firm has earlier invested in Pawan Dhanai (Pvt) Ltd, a 10MW wind plant, also in the same area.

Lanka Ventures also has invested in mini-hydro plants with a total capacity of 14.

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4 MW.
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