Patali Champika Ranawaka alleges massive overpricing in Sri Lanka’s coal imports, claiming inflated contracts, inferior quality supplies, and millions in excess profits that could ultimately burden the public.
- The price of cheap coal is $60. Sold to Sri Lanka for $98.
Former Minister Patali Champika Ranawaka has alleged that the recent coal procurement process has caused a significant financial loss to Sri Lanka’s energy sector. He claims that the government and Triden jointly contributed to losses exceeding Rs. 400 million through questionable pricing and quality discrepancies.
Ranawaka argues that authorities are misleading the public by insisting that only the first coal shipment had issues. According to him, performance data from nine or ten ships already burned confirms that inferior coal was supplied repeatedly. He states that the tender promised high-quality coal with a calorific value of 6150 kilocalories per metric ton at a price of $98.50.
However, he alleges that the coal delivered had a lower calorific value of around 5,500 kilocalories. Such coal, he claims, is available on the global market for between $60 and $65 per metric ton. By supplying lower-grade coal at a higher contracted price, Ranawaka contends that Triden earned an additional $20 to $30 per ton, generating between $12 and $15 million from a single shipment.
He further cited data presented to Parliament by the Ceylon Electricity Board, claiming that each coal shipment results in substantial losses. Ranawaka warned that the cumulative financial burden could eventually be passed on to consumers.
