It is reported that the proposal related to the construction of the Hambantota Oil Refinery by the Chinese government-owned Sinopec Company is scheduled to be submitted to the Cabinet today (27).
Minister of Power and Energy Mr. Kanchana Wijesekera said that after the proposal is approved by the cabinet, the signing of the agreement will be done.
Minister Kanchana Wijesekera said that the oil refinery proposed to be built by Sinopec in Hambantota is an investment of 4.5 billion US dollars and an official statement is expected to be made in this regard tomorrow (28).
“Pillasa made calls for a new refinery in Hambantota. Accordingly, after completing the studies, Lakkara was selected. Lucky Sinopec Co. to choose from. It has now been submitted to the Cabinet for approval for the necessary contracts for this company. Approval has been given for the cabinet sub-committee last Wednesday. It has been referred for the final decision on the agenda for next Monday. We hope to make an official agreement on this by Tuesday. This will become the main investment in the energy sector to be added to Sri Lanka. At least we hope that with an investment of 4.5-5 billion US dollars, it will become an investment for the needs of our export-oriented country.”