Facebook icon
Twitter icon
e-mail icon

Sri Lanka minister says Sinopec to start work on refinery by June

 The world's largest refiner, China's Sinopec plans to start work on a refinery in Sri Lanka by June, the power minister said last Thursday.

Officials of Sinopec Overseas Investment Holding were visiting Colombo for talks with Sri Lankan authorities.

"The officials indicated that the management of Sinopec has decided to double the capacity of the refinery from the original proposal," the minister, Kanchana Wijesekera, wrote on social media platform X.



"They intend to sign the agreements for the project and commence work by June 2024."

Sri Lanka's cabinet approved the project in November, an investment that Wijesekera has earlier tagged at $4.5 billion.

China is Sri Lanka's biggest two-way lender, with its companies building highways, sea and air ports and other infrastructure on the island.

The investment by Sinopec, one of the largest producers of petrochemicals, is part of an effort to expand beyond China, in which it has acquired refinery assets in Saudi Arabia and petrochemicals production in Russia.

Iran built Sri Lanka's only refinery at Sapugaskanda in the western region in 1969. It can process 38,000 barrels of crude a day.

Read more here

We need your support

Sri Lanka is one of the most dangerous places in the world to be a journalist. Tamil journalists are particularly at threat, with at least 41 media workers known to have been killed by the Sri Lankan state or its paramilitaries during and after the armed conflict.

Despite the risks, our team on the ground remain committed to providing detailed and accurate reporting of developments in the Tamil homeland, across the island and around the world, as well as providing expert analysis and insight from the Tamil point of view

We need your support in keeping our journalism going. Support our work today.

For more ways to donate visit https://donate.tamilguardian.com.