Sri Lanka, China Discuss $3b Refinery
Sri Lanka, China Discuss $3b Refinery

Sri Lanka, China Discuss $3b Refinery

Sri Lanka, China Discuss $3b Refinery

Sri Lanka is in talks with two Chinese companies about investing up to $3 billion to build a new refinery at its Chinese-controlled port, a top government official said on Friday. Sri Lanka wants to build a new refinery in its southern Hambantota Port where China Merchants Port Holdings has a 99-year lease to handle commercial operations, Reuters reported. Sri Lanka’s sole oil refinery, state-run Ceylon Petroleum Corporation’s decades-old 50,000 bpd plant, was originally configured to run on Iranian crude and Sri Lanka had to import more refined oil products after US sanctions led it to stop imports from Iran. Mangala Yapa, a director at the state-run Board of Investment, said two Chinese companies had put forward a joint venture proposal for the refinery, which is expected to produce 5 million tons per annum with an investment of between $2.5 billion and $3 billion. He did not name the Chinese firms.


Short URL : https://goo.gl/7yUCsz
  1. https://goo.gl/pZixvd
  • https://goo.gl/8CKyCL
  • https://goo.gl/diqw4m
  • https://goo.gl/odqKUb
  • https://goo.gl/AXGKuG

You can also read ...

Sweden Approves Nord Stream 2 Pipeline
While Denmark is yet to give permission for the Nord Stream 2...
India Sees $55-60 Oil Price Reasonable
India, the world’s third-largest oil consumer, expects a...
Chinese Tariffs Will Crimp American Shale Production
China’s proposed tariffs on US petroleum imports, part of a...
NIOC Plans to Increase Oilfield Capacity
National Iranian Oil Company plans to increase the production...
OPEC reached an agreement with Russia in 2016 to keep 1.8 million bpd off the market.
Oil Minister Bijan Namdar Zanganeh rejected leaving the 2016...
Sixfold Rise in Zanjan Petrochem Plant Capital
Zanjan Petrochemical Complex’s registered capital has...
Renewable Power Plants' Dues Settled in Full
The state-run Renewable Energy Organization of Iran, aka SUNA...

Add new comment

Read our comment policy before posting your viewpoints