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Sri Lanka Malwathu Oya hydro project cost inflate 106-pct over 6 years
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srilankachronicle.comReposted by 
EconomyNext
EconomyNextSri Lanka Malwathu Oya hydro project cost inflate 106-pct over 6 years
The Sri Lankan Cabinet has approved the resumption of the Lower Malwathu Oya multipurpose hydro power project, which had been suspended following the COVID-19 pandemic and a subsequent currency crisis. The crisis, which ultimately led to a sovereign default, was triggered by aggressive interest rate cuts aimed at stimulating economic growth. Initial Cabinet approval for the project was granted on July 19, 2019, with an estimated cost of 22.9 bil…
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