ECONOMYNEXT – Sri Lanka’s cabinet has approved the resumption of Lower Malwathu Oya multipurpose hydro power project, which was halted following the Coronavirus epidemic and a currency crisis which ended in default triggered by aggressive rate cuts to boost growth. The cabinet had given approval in July 19, 2019 for the Lower Malwathu Oya project with an estimated cost of 22.9 billion rupees. The revised cost of the project submitted to cabinet in December 2025 was 47.18 billion rupees. The revised price indicates a rise in rupee of 106.02 percent between 2019 and 2025. Between July 2029 and December 2028,…
Sri Lanka Malwathu Oya hydro project cost inflate 106-pct over 6 years
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