Sri Lankan government approves construction of oil refinery in the southern town of Hambantota
The government of Sri Lanka has reportedly approved the construction of an oil refinery with a capacity of 10 million tonnes a year by a Singapore-Oman joint venture in the country’s southern city of Hambantota in close proximity to a deep-water port operated by a Chinese firm.
The Sri Lankan Government Information Department has stated that the Cabinet of Ministers has last week approved a proposal for the export-oriented refinery presented by Sri Lanka’s Minister of Development Strategies and International Trade Malik Samarawickrama.
According to the statement, the refinery will be built by a joint venture between Silver Park International (Pvt) Ltd. of Singapore and the Sultanate of Oman’s Oil and Gas Ministry.
The Cabinet had reportedly approved leasing 400 acre of land in Hambantota to the investors for the project.
OSL take:
The government of Sri Lanka is engaged in a massive development drive creating a host of business/investment opportunities for foreign businesses. The proposed oil refinery in Hambantota is one such project. Therefore foreign businesses could explore business/investment opportunities in every economic sector in Sri Lanka.
| Article Code : | VBS/AT/12032019/Z_1 |