Oman’s oil minister in SL for refinery project launch

24 March 2019 09:34 am - 6 - {{hitsCtrl.values.hits}}

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Oman’s oil minister arrived in Sri Lanka on Saturday to participate in the launching of a $3.85 billion oil refinery project, government officials in Colombo said, three days after Oman said it had not yet agreed to invest in the facility, Reuters reported.

The arrival of Mohammed bin Hamad Al Rumhy could mean that the project - Sri Lanka’s biggest foreign direct investment deal - is back on track. However, there is no immediate sign of a formal deal involving Omani investment.

Sri Lankan officials said on Tuesday that Oman’s oil ministry planned to take a 30 percent stake in the project. A Singaporean company controlled by India’s Accord Group would invest the other 70 percent. The storage tank part of the facility would be owned fully by the Accord entity.

But on Wednesday, Oman denied knowing about its part in the plan to build the refinery on Sri Lanka’s southern coast. “He [Oman’s oil minister] is here to take part in the ground-breaking ceremony for the oil tanks of the refinery,” a senior official at Sri Lanka’s Strategic Development Ministry told Reuters. Officials from Oman’s oil ministry were not immediately available for comment.

The refinery is being constructed near a $1.4 billion port at Hambantota that is controlled by China Merchants Port Holdings. India and China have been vying for political influence in Sri Lanka in recent years, with investment a key part of the battleground. China is the biggest buyer of Omani oil, importing about 80 percent of the Middle Eastern nation’s overall crude exports in January, according to Oman government data.

Another government official confirmed the minister’s arrival and his participation at the ceremony in Hambantota on Sunday. There are also plans in place by China Harbour Engineering Corp to build an investment zone alongside the port

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Comments - 6

Haramanis Sunday, 24 March 2019 09:39 AM

He is on a paid holiday courtesy SL Govt

S.P. Ramkumar Sunday, 24 March 2019 10:08 AM

Grate out come. Now Sri lanka is a heaven for investors. Investors could come without fear in their investments.

Nihlan Sunday, 24 March 2019 10:19 AM

Another volkswagan this is just an eyewash to attract some votes, anyone will come in if the trip is offered by governme nt, omani news paper reports he is in a private visit.

Mohamed Sunday, 24 March 2019 10:40 AM

China new the value of the strategic location and identified an opportunity: Hambanthota port and then refinery and fuel ships which need huge investments Sri Lana cannot do on its own. No use of going behind China and accusing them. our ministers busy in inciting communal violence as per foreign agenda and dreaming to become PM- Thanks to the future electronic vote counting system which can be easily manipulated

Jaliya Sunday, 24 March 2019 10:41 AM

This man is not Oil minister, he is a slick imitator... which Arab oil minister would rush up in a hurry to discuss a deal for an oil refinery in three days based on a newspaper article ? This is an Indian dressed up as an Arab and anyone with a little common sense would realize that3.8B is not peanuts, even if it was, still a lot of peanuts that we cannot consume or digest.

DJ Monday, 25 March 2019 07:10 AM

The article is full of misleading statements. This clearly portrays Malik S the present biggest commission agent for Yahapalanaya if involved, nothing will come out if this for Lanka but sure some black money made white will take place

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Oman’s oil minister in SL for refinery project launch

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