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India's offer to Sri Lankan Project
Why is it in news?
- India has offered a grant of $12 million to projects in three small islands off Jaffna Peninsula in northern Sri Lanka.
Details:
- A Chinese company had won the contract to install renewable energy systems in three small islands. India may replace this bid of China by the proposed offer.
- The development comes less than a month after the Cabinet cleared a project to install hybrid renewable energy systems in Nainativu, Delft or Neduntheevu, and Analaitivu, located in the Palk Bay, some 50 km off Tamil Nadu.
- The Cabinet decisions taken on January 18, published officially, included a proposal to award the contract to Sinosoar-Etechwin Joint Venture in China.
- The funding was supposed to come from the ADB.