'Reliance' for oil exploration in Mannar
Investment Promotion Minister, Navin Dissanayake will meet Mumbai
industrial giant Reliance Industries for exploration of oil as the oil
exploration company has shown interest in prospecting for oil in the
island's possible oil fields in the North.
Mukesh Ambani led Reliance company is one of the most reputed oil
exploration companies after its successes in the field.
Dissanayake who is in India told reporters in New Delhi that Sri
Lanka is offering Mannar and the Southern Basin for exploration for the
On the size of the oil fields offered to the Reliance, Dissanayake
estimating the deal has said, for exploration Cairns India took one
block that was of $400 million.
"If Reliance is coming, it will be into that figure at least," he
Dissanayake said Sri Lanka is also discussing with Adithya Birla and
Company for setting up of a Carbon Black plant in Sri Lanka. Carbon
Black is used in the manufacturing of motor vehicle tyres. According to
him, investment for Carbon Black would be in the range of $ 40 to 50
The Minister said Sri Lanka is also interested in building an IT Park
with about 10,000 seats in the outskirts of Colombo and discussions for
the investment for such a park with Mahindra Group was on.
The investment would need about $ 70 to 100 million.
Other items under discussion are industrial parks or investment zones
at Trincomalee, Kilinochchi and Anuradhapura, he said.