72968
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 ...

679 tons of carbon dioxide will be prevented from entering the atmosphere during the project’s 20-year lifetime.
Solar power is becoming an increasingly important part of the...
India Will Lead International Oil Demand by 2035
Oil market participants and analysts have been closely...
Oil Markets Split
Oil markets were split on Tuesday, with US crude still...
Oil Producers to Mull  Long-Term Cooperation
OPEC and non-OPEC oil producers, including Russia, will...
Iran is currently drawing crude from West Karoun block at an unacceptable extraction rate of 5-6%.
Iran's Petroleum Engineering and Development Company has...
Gas Delivery to Power Plants Cuts Pollution, Raises Revenues
Supplying natural gas to power plants, instead of liquefied...
Iran Gasoline Consumption  at 80 ml/d in 1 Month
Data released by the National Iranian Oil Products...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus