Signing of the Memorandum of Agreement between NTPC Ltd., CEB and the Government of Sri Lanka

A Memorandum of Agreement was signed between NTPC Ltd., (a Government of India Undertaking), CEB and Government of Sri Lanka today at the Presidential Secretariat for setting up of a 500 MW coal based thermal power plant at Trincomalee. The power plant is expected to commence operations from 2011. With the signing of the Agreement will commence the process of site selection in Trincomalee which will be done on the basis of techno-economic and environmental feasibility studies and other relevant matters including availability of infrastructure etc.

The Memorandum of Agreement was signed by Mr. T Sankarlingam, CMD, NTPC Ltd, Mr. MMC Ferdinando , Secretary Power and Mr. Perera, Chairman CEB. Mr. Alok Prasad, High Commissioner, Mr. R V Shahi, Secretary (Power), Government of India and other officials of NTPC and the Indian High Commission were also present. The visiting Indian delegation and High Commissioner of India, Mr. Alok Prasad, also called on H.E. President Mahinda Rajapaksa at Temple Trees.

The project would involve an investment of US $ 500 million and would be implemented by a joint venture company to be formed with a stake of 50% each by NTPC Ltd. and CEB. The project would be funded with a debt equity ratio of 70:30. In January 2007, a joint venture agreement between CEB and NTPC, a power purchase agreement between the JV company and CEB, an agreement between BOI and the JV company, implementation agreement and coal supply agreement are expected to be signed.

NTPC is a Government of India undertaking wherein Government owns 89.5% equity. NTPC is one of the top six companies by market capitalization in India. The market capitalization of NTPC is approximately US $ 25 billion. NTPC has been declared successively for a continuous period of 3 years amongst the top three best places to work in India . In the area of environment, all of NTPC plants are accredited with ISO 14001 certification. NTPC is the second largest owner of trees in the country after Government of India. NTPC, the sixth largest power generator in the world, has an installed capacity of 26,000 MW. During 2005-06, its plants operated at a plant load factor of 87.54%.

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Presentation of Credentials by H.E. Mr. Alok Prasad, High Commissioner of India to Sri Lanka

H.E. Mr. Alok Prasad, High Commissioner of India to Sri Lanka, presented his credentials to H.E. President Mahinda Rajapaksa, President of the Democratic Socialist Republic of Sri Lanka at the Presidential Secretariat today.

His Excellency Shri Alok Prasad, High Commissioner of India to Sri Lanka.

Curriculum Vitae of Shri Alok Prasad, High Commissoner of India to Sri Lanka.

Mr. Alok Prasad is High Commissioner of India to Sri Lanka. He comes to Sri Lanka from Singapore where he was India's High Commissioner. He was previously Deputy Chief of Mission at the Embassy of India, Washington from 2000 to 2004. He was formerly the Joint Secretary for Americas Division for five years in the Ministry of External Affairs, New Delhi. During these periods, he played a key role in expanding bilateral relations between India and the United States.

Mr. Prasad joined the Indian Foreign Service in 1974. During the course of next 30 years, he had represented India in various capacities in Germany, UN-New York, Netherlands, Nepal, Burma and Botswana.

He has also worked in the Office of Prime Minister, where he was closely involved with India's economic liberalization and structural reform program. Mr. Prasad earned a B.A. and a Masters degree in Economics from the Delhi University.

He is a Fellow of the Centre for International Affairs, Harvard University.

He is married to Nandini and they have two children.

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