An oil refinery is to be built in Sri Lanka by a private consortium if it can gather USD 600 million in funding, another dividend from the country’s moves towards peace, according to officials. The 75,000bpd refinery would be one of the biggest private sector investments in the war-battered country in years and was announced as the government and Tamil Tiger rebels began face-to-face peace talks in Thailand.
Sri Lanka has already approved two other refinery projects and other oil deals, including with India’s state-run India Oil Corp. since a Norway-brokered ceasefire was signed in February. A statement from state-run Ceylon Petroleum Corporation said Global Energy & Industrial Operations Inc. of the US was promoting the oil project and was negotiating with Japanese and Korean companies to fund and implement it. The refinery would be near to CPC’s 50,000 bpd refinery on the outskirts of Colombo, currently the only one in the country.
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