Sinopec assures speedy commencement of new Hambantota refinery

Colombo, Oct. 15 (Daily Mirror) - A high-level delegation from China’s Sinopec Group has assured Minister of Foreign Affairs Vijitha Herath, that the company will expedite the commencement of the proposed oil refinery project in Hambantota.

The delegation, led by Sinopec Vice Chairman Liu Liangong and comprising ten senior officials, met Minister Herath today (15) at the Ministry to discuss the progress of the refinery project and address outstanding issues. The refinery, estimated at a value of USD 3.7 billion, is expected to produce up to 200,000 barrels of oil per day once completed.

Vice Chairman Liangong expressed appreciation for Minister Herath’s assistance in resolving many of the long-standing issues that had delayed the project for years. 

He noted that, with this support, the agreement for the project was successfully signed in January this year.

During the meeting, Mr. Liangong also presented several remaining challenges that have affected the project’s launch and requested the Minister’s intervention to ensure they are swiftly resolved.

Minister Herath assured the delegation that he would personally intervene to resolve the remaining issues as quickly as possible, emphasizing the positive impact that foreign investments such as this would have on Sri Lanka’s economy.

Following the discussion, both parties reached a mutual agreement to commence the project without further delay.

The Sinopec delegation is also scheduled to hold discussions later today with the Ministry of Power and Energy, the Board of Investment (BOI), and other relevant agencies.