Sri Lanka says evaluating US$16bn Singapore investments after FTA

ECONOMYNEXT  – Sri Lanka is evaluating 16 billion dollars of investments from Singapore including a 14.8 billion US dollar oil refinery in Hambantota after a free trade agreement was signed, the state investment promotion agency said.

A 1 billion dollar steel plant is also being evaluated to be sited near the port city of Trincomalee.

There were also proposals for a 200 million dollar sugar refinery and 50 million dollar flour mill, in Hambantota, which will cater to the domestic and export markets, the Board of Investment said.

The projects could be implemented if land could be found, the statement said.

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