A 36 MW power plant has been set up in Chunnakam, Jaffna at a cost of $ 35 million. MTD Walkers PLC, the holding company of the diversified Walkers group of companies undertook the setting up and operation of this power plant in Jaffna.
Head of Operations of MTD Walkers PLC, Air Vice Marshall (Retd.) Lal Perera said that they had invested in this plant in 2007 during the war when other investors were reluctant to invest. "We are now in a position to provide power to the entire peninsula," he said. The current electricity requirement is around 33 MW whilst the delivery is around 24 MW. This results in a one-and-a-half hour power cut in the peninsula. The new power plant will end these power cuts and fill a major void for the area that is rapidly developing after the conclusion of the war.
With the setting up of this plant last month the power cuts in Jaffna have ceased and people who were not using their electrical items are now using them.
"The demand for electricity is now being met. However, with more investments for the area the demand would increase again," he said. Construction work on the complex has been already completed and they would be able to provide the 36 MW in a few months.
"We invested in bad times and we will re-invest again to meet the projected demand in the future," he said.
He said that they are running at a loss since they are unable to use Heavy Furnace Oil (HFO) as it is still not available.
"However, plans are under way to provide this facility in the near future," he said.
Currently the plant is supplying electricity to the national grid as an Independent Power Supply Plant (IPP). Many direct and indirect employment opportunities have been created due to this project. In addition the company has also undertaken a large number of infrastructure development projects in Sri Lanka that are in line with the Government's infrastructure development drive and President Mahinda Rajapaksa's long-term vision for the country, under the Mahinda Chinthana.
These include the construction of the Nila Sevana, low cost, semi-luxury condominium apartments for public servants. Construction work on the Nila Sevana apartments is currently under way in Habaraduwa, Galle and Wekunagoda.
Elaborating on the company's future plans, CEO/Managing Director of CML MTD Construction Ltd, Dian N. Jayasuriya said that it plans to continue playing a key role in the country's infrastructure development drive and that it has already held discussions with several foreign entities which have shown an interest to carry out infrastructure development projects in Sri Lanka, in collaboration with MTD Walkers PLC and its associate companies. CEO/Managing Director Jayasuriya said, MTD Walkers PLC recorded a net profit of Rs. 109 million and revenue of Rs. 1.5 billion for the financial year ending March 31, 2009, thereby continuing its profit making trend for the second consecutive year. The net asset per share and earnings per share stood at Rs. 57.45 and Rs. 19.09 at the end of the same period.
"Our company's operations have changed dramatically during the past year. We have repositioned our business to become a fully integrated general civil works constructor. We have also made considerable investments in transport logistics and streamlining the supply chain".
(Courtesy: Sunday Observer)
