Sinopec assures readiness to invest on refinery in Hambantota

Sri Lankan President Ranil Wickremesinghe said that the government has taken a policy decision to expand fuel distribution and a programme will be initiated soon.

He also noted that Hambantota has been identified as a primary energy hub.

According to the President’s Media Division, he made these comments during a discussion with the representatives of the Sinopec Group held at the President’s Office in Colombo today (13).

Sinopec has also stated their readiness to invest in importing, storage, distribution and sales of petroleum products to meet with Sri Lanka’s requirement.

According to the PMD, Sinopec has also pledged to invest in a refinery in Hambantota.

The representatives informed the Sri Lankan government that their company has adhered to the existing system and has applied accordingly. They further conveyed their readiness to fully invest in 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 a proposal to the President who spoke about the import, storage and distribution of petroleum products.

Expressing his views, President Ranil Wickremesinghe further stated rapid development is expected following the program with the International Monetary Fund.

He also expressed his expectations to promote foreign businesses operating within the country in the future.