Vidullanka PLC has disposed 49% equity stake in Vidul Biomass (Pvt) Limited to O C Energy Lanka (Pvt) Limited, forming the joint venture to develop 3.3 MW Dehiyathakandiaya Dendro power project as per the agreement dated September 28, 2018, signed between Vidullanka PLC and O C Energy Lanka (Pvt) Limited.
The joint venture ensures further equity investment of US$ 3 in to the Vidul Biomass (Pvt) Limited jointly by the joint venture partners in developing the power project, according to Colombo Stock Exchange filing.
O C Energy Lanka (Pvt) Limited is a fully owned subsidiary of Obayashi Corporation of Japan.
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