25 May 2021 08:45 pm
The cabinet has given the green light to Energy Minister Udaya Gammanpila to construct a new Oil refinery with the capacity of 100,000 BPD (Barrels Per Day) at Sapugaskanda and also to renovate the existing refinery to raise its daily capacity to 45,000 BPD from the current 38,000, Minister Gammanpila said.
The total cost for the two projects is estimated to Rs. 600 billion.
He told the weekly cabinet news briefing today that the construction of a new refinery, one of the largest investment projects ever undertaken by the country will be implemented as a BOOT (Build, Own, Operate and Transfer) project and the Ceylon Petroleum Corporation Act of 1961 will be amended to facilitate it.
“The feasibility study on the development project is expected in a few months and the government expects to call open global tenders for the construction of the new refinery before the end of the year,” Minister Gammanpila said.(Sandun A Jayasekara)