Proposed new oil refinery in Hambantota receives seven EOIs

The proposed new refinery in Hambantota has received Expressions of Interest (EOIs) from seven companies, the Power and Energy Ministry shared yesterday.

Meeting the deadline, which fell on March 27 were; Grant & Shearer Ltd, Lagos - Nigeria, China Petroleum & Chemical Corporation (Sinopec) - China, Petrichor Capital Sdn.Bhd - Malaysia, Vitol Group - Singapore, Matin Tejarat Co. - Iran, Harree Management Services (Pvt) Ltd with Marka Invest - Sri Lanka and UAE based, and Dandeniya Engineering Sales & Service Syndicate - Sri Lanka.

In an update on Twitter, Power and Energy Minister Kanchana Wijesekera said the technical evaluation committee and other procurement committees will evaluate EOIs and issue the Request for Proposals (RFP) to suitable applicants.

Following a Cabinet decision in January, the Ministry of Power and Energy of Sri Lanka in February called for EOIs for the establishment of an export-oriented petroleum refinery and associated product processing centre in Hambantota on build, own, and operate (BOO) basis, with special emphasis on the feasibility of deployment of a viable business model using their own funds.

The Power and Energy Ministry will facilitate the venture along with the Board of Investment (BOI).
The government has set aside approximately 400 acres of land adjacent to the Hambantota Port on a long-term lease basis for this business proposition and expects the proposed project to have a minimum capacity of 100,000 barrels per day.