COLOMBO, Sri Lanka (AP) – Iranian President Ebrahim Raisi arrived in Sri Lanka on Wednesday to start hydropower and irrigation initiatives lengthy delayed as a result of worldwide sanctions in opposition to his authorities and different points.
Raisi would be the first Iranian chief to go to Sri Lanka since former President Mahmoud Ahmadinejad visited the nation in 2008.
The venture, valued at $514 million, was began in 2010 by Iran’s FALAB Technology Group, with Iran initially offering $50 million. However, in 2013, worldwide sanctions in opposition to Iran made it inconceivable to proceed funding. The Sri Lankan authorities then determined to finish the venture with its personal funds, utilizing the identical Iranian contractor.
The venture was scheduled to be accomplished in 2015 however was delayed as a result of sanctions, technical points and the COVID-19 pandemic, the federal government mentioned.
The venture will add 290 GWh of electrical energy yearly to the nationwide grid and can irrigate 4,500 hectares (11,100 acres) of latest land and 1,500 hectares (3,700 acres) of current farmland.
Raisi and Sri Lankan President Ranil Wickremesinghe are anticipated to witness the signing of the 5 memorandums of understanding and challenge a joint assertion.
Raisi arrived in Sri Lanka from Pakistan, the place the 2 nations agreed to strengthen financial and safety cooperation.