Sinopec offers to fully finance Hambantota refinery
China’s Sinopec has offered to fully finance the construction of a refinery in Hambantota, the President’s Media Division said.
During a discussion with representatives of the Sinopec Group held at the Presidential Secretariat this morning (13), President Ranil Wickremesinghe said that the Government has taken a principled decision to expand the distribution of fuel which is expected to commence shortly.
The representatives from the Sinopec Group confirmed their readiness to invest in the import, storage, distribution, and marketing of fuel to cater to Sri Lanka’s energy requirements.
The representatives informed the Sri Lankan Government that their organization has adhered to the existing system and has applied accordingly. They further conveyed their readiness to fully finance the construction of a refinery in Hambantota, which has been identified as a central energy hub by the Government.
Moreover, the representatives stated that their company is prepared to respond to future solicitations that align with the aspirations of the country.
They also presented their proposal to the President who spoke about the import, storage and distribution of petroleum products.
Expressing his views, President Ranil Wickremesinghe further stated that Sri Lanka expects rapid development following the program with the International Monetary Fund.
President Wickremesinghe also expressed his desire to promote and attract foreign businesses to operate within the country in the future.
Minister of Power and Energy Kanchana Wijesekera, Senior Advisor to the President on National Security and Chief of Presidential Staff Sagala Ratnayake, Secretary to the President Saman Ekanayake, Secretary of the Treasury Mahinda Siriwardena, Secretary of the Ministry of Power and Energy Mapa Pathirana and government officials and representatives of the Sinopec Group participated in the discussion. (Colombo Gazette)