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Minister tours proposed site of oil refinery

by Rashomi Silva

Southern Region Development Minister Ananda Kularatne inspected the proposed site of the oil refinery at Hambantota, Mirijawila recently. Reperesentatives of CINOPEC, the prospective Chinese investor company, accompanied the Minister, the Southern Regional Development Ministry said.

CINOPEC is a leading oil refinery company in China.

A CINOPEC representative, said after his recent visit to Sri Lanka, the Chinese Prime Minister invited the Chinese business community to explore investment opportunities in Sri Lanka to boost the goodwill and friendship between the two countries and to open the Sri Lankan market for Chinese goods.

An MOU will be signed between the government and CINOPEC after the Cabinet approves the project proposal. The feasibility report will be handed over to the government within six months and the entire project will be completed within 48 months after signing the MOU.

The proposed oil refinery plant will be implemented as a BOI project and will be designed according to the environmentally friendly specification of EURO 2005 standards.

The plant will yield 165,000 barrels of oil per day and create over 7000 employment opportunities.

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