Black Sand Coal supplier pulls out, lawsuit cited as reason
The coal consignment which was awarded on the 25th of August to Black Sands Coal company in the United Arab Emirates has pulled out today (23), citing reasons as long credit period and the lawsuit which was filed by Browns Investments.
Speaking to The Morning, a spokesperson for the Ceylon Electricity Board Engineers Union (CEBEU) Isuru Kasthurirathne said that tenders have once again been called for but it would take time to finalise a supplier.
“There is coal at the moment but we need to finalise the supplier immediately along with the credit period as a delay would cause issues with the continuous supply of electricity,” he said.
The Ministry of Power and Energy announced that Lanka Coal Company, a subsidiary of the Ceylon Electricity Board, has called for tenders for the supply of coal on log term credit and, in the interim, the remaining consignment from last year will be advance to meet the supply needs.