Thursday July 18, 2019

Sri Lanka sells bunker fuel at Hambantota Port ahead of handover to China

Oct 28, 2017 19:46 PM GMT+0530 | 0 Comment(s)


ECONOMYNEXT - Sri Lanka is to sell stocks of bunker fuel stored at a terminal in Hambantota Port the south of the island, ahead of its handover to a Chinese company.

The cabinet of ministers had approved a proposal by Port Minister Mahinda Samarasinghe to sell the fuel stocks to Inter-Ocean Energy (Pvt) Ltd, after calling for quotations, the state information office said.

The bunker terminal had stocks of 13,500 metric tonnes of marine gas oil and 648 tonnes of IFO-380 CST fuel oil for 3.228 million US dollars.

Sri Lanka Ports Authority was tried to run the terminal on its own without leasing it to private firms, contributing to losses at the port.

Eventually the port was sold to China without calling for international tenders.  (Colombo/Oct30/2017)


Name *
Email *
Telephone Number