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Sri Lanka is yet to make any public remark on whether the Hindenburg row would impact Adani’s projects in the country
Lanka approves Adani’s $442-m wind energy project
BY MEERA SRINIVASAN
Crisis-hit Sri Lanka has approved a $442 million-wind power project of Adani Green Energy, barely a month since the conglomerate’s stocks plummeted following US-based short seller Hindenburg’s damaging report on the Group.
“Adani, a leading Indian company” received the project approval “to start two wind power plants in Mannar and Pooneryn areas of (northern) Sri Lanka,” the Board of Investment (BOI) of Sri Lanka said on Wednesday. The project will likely create 2,000 jobs and in two years, generate about 350 MW of power, the Board said in a statement.
The BOI’s approval effectively takes Adani Group’s total investments in the island nation over the $1 billion-mark. It has already committed to pumping in $700 million at a strategic port terminal in Colombo and work on the west container terminal began in November last year.
Sri Lankan authorities are yet to make any public remark on whether the Group’s crashing stocks, following the Hindenburg allegations, would impact its ambitious projects in the investment-starved island nation.
When contacted, Sri Lanka’s State Minister of Investment Promotion Dilum Amunugama said the fall in Adani Group’s stocks “will not affect a company like them”.
“As far as our government and our Ministry are concerned, we are keen on investments and will ensure they are in order. That is why we approved this project,” he said on Thursday. Earlier, Sri Lanka’s Power and Energy Minister Kanchana Wijesekera held a “progress review” meeting with the visiting officials of the Adani Group, on the renewable energy projects.
Last year, the Adani Group’s projects triggered controversy in Sri Lanka, with government critics raising questions over transparency and due process in clearing the projects. The Opposition accused the Group of making a “backdoor entry” into the country’s energy sector, and within months, Sri Lanka amended its energy laws to eliminate competitive bidding in the energy sector.
In a separate development at the time, a former Ceylon Electricity Board chairman resigned after his controversial remarks to a parliamentary panel — he subsequently withdrew them and resigned — that Prime Minister Narendra Modi had “pressured” then Sri Lankan President Gotabaya Rajapaksa to clear an Adani Group project in the island nation. Rajapaksa “vehemently denied” the claim.
Meanwhile, the signing of the renewable energy project comes amid a renewed push by India and Sri Lanka to link their energy grids, an idea that the neighbouring countries first mooted over a decade ago. Currently, Sri Lanka generates power totaling some 4,200 MW a year, and the annual demand for energy is estimated to increase by about 5 per cent over the next two decades. Authorities have said they aim to add about 2,800 MW renewable energy into the national grid over the next three years.
Meera Srinivasan is The Hindu Correspondent in Colombo.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
