Economics

Tea Exports Cover $60M of Sri Lanka’s Fuel Debt to Iran

  • July 16, 2024

The Sri Lanka Tea Board announced that exports of Ceylon Tea have successfully offset $60 million of the country’s fuel bill owed to Iran. Since 2011, Sri Lanka had accumulated arrears of $251 million for fuel imports from Iran. Chairman Niraj De Mel noted that this settlement was achieved as tea exports to Iran tripled

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Economics

Sri Lanka, Iran Presidents inaugurate Uma Oya hydro-electric project

  • April 26, 2024

Iran’s President Seyyed Ebrahim Raisi and Sri Lanka’s President Ranil Wickremesinghe jointly inaugurated a hydroelectric project in Sri Lanka, adding significant capacity to the national grid with an estimated generation of up to 290 Giga Watt hours of energy. This $514 million irrigation and hydropower initiative, designed and constructed by Iran’s Farab engineering group, holds

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