• Indo Pacific Projects Director, Greenlink Energy LLC, Brahmendra Thakur
• There're opportunities to connect SL more closely with regional trade, manufacturing and logistics networks
• Cooperation on energy security, infrastructure and resilient supply chains could bring investment and better market access

Director Projects, Indo Pacific at Greenlink Energy LLC, Brahmendra Thakur, who is a business leader with more than three decades of experience in the energy, infrastructure, engineering and technology sectors, recently visited Sri Lanka to attend an international maritime conference and assess the country’s investment climate. Having led large-scale projects across India, the Asia-Pacific, and the Middle East and North Africa (MENA) region, Thakur brings extensive experience in navigating complex business environments and managing strategic investments. Thakur has held several senior leadership positions at a global engineering, procurement, consulting and construction company specialising in infrastructure development, including regional director, associate vice president and general manager, overseeing projects spanning liquefied natural gas (LNG) to power, hydropower, mining, telecommunications, electricity grids and engineering and construction solutions. His expertise also encompasses business strategy, financial management, project execution, corporate governance and corporate social responsibility.

In an interview with The Daily Morning, Thakur discussed how Sri Lanka is positioning itself as an investment destination amid intensifying global competition, shifting geopolitical alignments and regional uncertainties. He also examined the challenges and opportunities facing the country as it seeks to attract foreign investment, strengthen its infrastructure and build resilience in an increasingly unpredictable geopolitical landscape.

Following are excerpts from the interview:

What were your main takeaways from the maritime and investment conferences you attended in Colombo?

The strongest message was that Sri Lanka’s potential continues to attract investors interest. Its strategic location, expanding port capacity and reform agenda offer opportunities in ports, logistics and regional trade.

But, interest alone isn’t enough. The discussions also highlighted policy uncertainty, slow approvals and implementation delays. To translate its maritime advantages into long-term investment, Sri Lanka needs clear regulations, predictable decisions and consistent execution.

As the Director, you have been involved in the Southern Province Energy Project (SPEP), formerly the Hambantota EP (HEP). How has the Government responded to it?

The SPEP has a long history of Government engagement. Our position is that the Government has been fully informed and that the Project has received substantial institutional support, although outstanding approvals remain.

We signed an exclusive memorandum of understanding with the Board of Investment (BOI) in February 2012. A feasibility study was completed in October of that year, and, according to our Project records, approved by the principal stakeholder agencies. The National Planning Department designated it a Strategic Development Project in November 2012, and the BOI communicated its in-principle approval in March 2015.

Despite that progress, implementation stalled. On 16 May 2024, the Government reconfirmed support for the Project and for issuing a letter of intent (LOI). That expression of support should not be confused with the actual issuance of the LOI, which we are still awaiting.

I recently met BOI officials. We are also seeking meetings with the Energy Minister and Finance Ministry officials, but, those appointments have yet to be confirmed.

What is the proposed investment, what would the Project deliver, and where does it stand?

Our current estimate is approximately US$ 1.8 billion, compared with about $ 1.4 billion in 2012. The proposal includes an LNG receiving terminal with a regasification capacity of 1.5 million tonnes a year, a 50 MW combined-cycle power plant and a further 500-MW plant in a subsequent phase. It also includes a pipeline supplying NG to existing power stations in the Kerawalapitiya area.

Preparatory work is substantially complete. According to our records, approvals have been obtained from the relevant stakeholders other than the Ceylon Electricity Board (now the National System Operator). The Project remains at the pre-investment stage, pending the Government’s LOI and the resolution of outstanding approvals.

What has held the Project back?

In our experience, the main obstacles have been delayed approvals, changing policy priorities and a lack of coordination between agencies. The LOI remains outstanding despite the support already communicated.

We have been told that a further independent study will be performed despite the feasibility work already undertaken. We recognise the need for proper scrutiny, requirements should be clear and decisions timely. An effective single-window system, a coordinated point of contact for approvals, would help prevent strategic projects from getting caught between institutions.

How could the SPEP improve energy security and support economic growth?

The aim is to diversify Sri Lanka’s energy mix and reduce reliance on diesel-fired generation. The proposed terminal and pipeline would make NG available to new and existing power plants.

Dependable gas-fired generation could also help balance the variable renewable output. We see the Project as a way to support a more resilient grid, improve electricity reliability for the industry and create a stronger foundation for economic growth.

How would you ensure transparency, environmental safeguards and value for consumers?

Our proposed approach is to use updated feasibility studies, transparent Project financing and competitive bidding for engineering, procurement and construction contracts. The commercial and environmental case must be demonstrated through that process rather than assumed.

We expect switching suitable diesel-fired plants to NG to offer potential cost and emissions benefits. Replacing diesel used for power generation could reduce oil imports. 

What happens next, and when could financing be finalised?

The immediate priority is the LOI. Once it’s issued, we estimate that completing the investment agreement and reaching financial , finalising the Project’s financing, could take approximately 18 months, provided that the remaining approvals arrive on time. That is a conditional estimate, not a confirmed investment or construction date.

How attractive is Sri Lanka’s investment climate, and what would turn interest into commitments?

I see an improving climate and renewed optimism following the economic crisis. Investors look beyond announcements. They want evidence that approvals are faster, rules are predictable and decisions are implemented.

The Government should establish an effective single-window approval process with clear deadlines and institutional accountability. Investor confidence grows when commitments are followed by action.

Which risks concern foreign investors the most?

The concerns that I hear most often involve regulatory delays, inconsistent policies, land access and permits. Investors can assess commercial risks, but, uncertainty about whether approvals will be granted or honoured makes long-term decisions much harder. Reform must therefore be matched by reliable administration.

Would stronger investor-protection laws encourage companies to commit capital?

Strong, enforceable investor protection laws will safeguard and would help build confidence. For long-term infrastructure investors, the essential questions are whether contracts will be respected, approvals will remain reliable and disputes can be resolved fairly.

A dedicated investor-protection law could send a positive signal, legislation alone isn’t enough. It must be supported by consistent implementation that gives investors’ confidence beyond any single political cycle.

What opportunities does greater Indo-Pacific cooperation offer Sri Lanka?

I see opportunities to connect Sri Lanka more closely with regional trade, manufacturing and logistics networks. Cooperation on energy security, infrastructure and resilient supply chains could bring investment and better market access. The priority should be to align local projects with practical regional needs, rather than treating connectivity as an abstract policy goal.

How can Sri Lanka work with the US, Canada, India, Japan, Australia and China while protecting its own interests?

Sri Lanka should pursue balanced, transparent and commercially sound partnerships. Different partners offer different strengths in capital, technology and market access. Projects should be assessed on their economic merits, with predictable rules and the national interest at the centre of every decision.

Could the SPEP turn those regional ambitions into tangible benefits?

That is our objective. LNG infrastructure and dependable power could support the industry, employment and greater energy security. Delivering the Project would also demonstrate Sri Lanka’s ability to carry a complex infrastructure proposal through to implementation. The key is continuity: policy commitments must translate into sustained execution.

How can the US–Sri Lanka trade relationship develop into greater investment and technology partnerships?

The existing trade relationship provides a foundation for partnerships in energy, logistics, digital services and advanced manufacturing. Sri Lanka should prioritise investments that bring technology, skills and lasting commercial value. Stronger business-to-business links, bilateral business councils and carefully targeted incentives could help turn trading relationships into long-term ventures.

Could overseas Sri Lankans play a greater role in attracting investment and opening international markets?

Yes, and the opportunity extends beyond the US. Overseas Sri Lankans can bring capital, expertise, technology and business networks. A dedicated diaspora investment desk could help investors navigate approvals and identify opportunities.

A connection to the country does not remove commercial risk. Diaspora investors need the same transparency, safeguards and predictable treatment as any other investor.

What could Sri Lanka realistically achieve in its commercial relationship with the US over the next three to five years?

I’m cautiously optimistic, provided that reforms continue and implementation improves. Potential gains include more foreign direct investment, technology partnerships, export opportunities and stronger links to global supply chains. These are opportunities, not guaranteed outcomes. Sri Lanka’s ability to deliver projects and maintain consistent policies will determine how much of that potential is realised.