ECONOMYNEXT – An oil refinery with a capacity of 10 million tonnes a year is to be built by a Singapore-Oman joint venture in Sri Lanka’s southern Hambantota, close to a deep-water port run by a Chinese firm.
The state information office said the Cabinet of Ministers this week approved a proposal for the export-oriented refinery presented by Minister of Development Strategies and International Trade Malik Samarawickrama.
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, a statement said.
The Cabinet had approved leasing 400 acre of land in Hambantota to the investors.
COLOMBO, March 08, 2019-SB)