Wednesday Nov 13, 2024
Wednesday Nov 13, 2024
Wednesday, 11 January 2023 00:26 - - {{hitsCtrl.values.hits}}
In a bid to boost foreign direct investments (FDIs), the Government has decided to call for an Expression of Interest to set up an export-oriented oil refinery in Hambantota.
“There is a possibility of establishing an export-oriented refinery in the Hambantota area, and it has been observed that many foreign investors are interested to invest in it,” Cabinet Co-Spokesman Bandula Gunawardena said yesterday.
The proposal to this effect submitted by Power and Energy Minister Kanchana Wijesekara was approved by the Cabinet of Ministers.
Given the foreign investor appetite for such projects, Gunawardena said Sri Lanka can have hopes for such projects to attract FDIs.
He also said Power and Energy Minister will brief on the project in detail within the week.
