INSUBCONTINENT EXCLUSIVE:
Sri Lankas Ministry of Power and Energy and Chinas Sinopec Corporation have signed an agreement to construct an oil refinery in Hambantota
with an investment of USD 3.7 billion.The arrangement was signed during President Anura Kumara Dissanayakes existing state visit to China,
marking the highest foreign financial investment secured by the government, the Presidents Media Division (PMD) said.The proposed oil
refinery has a capacity of 200,000 barrels of oil, of which a significant amount is prepared to be exported.This huge investment received by
Sri Lanka from China will contribute to the economic growth of the nation in addition to enhancing the livelihoods of the low-income people
in the Hambantota location, and the whole Sri Lankan people very soon, the PMD stated in a statement.Minister of Foreign Affairs, Foreign
Employment and Tourism Vijitha Herath, Minister of Transport, Highways, Ports and Civil Aviation Bimal Ratnayake, Chinese Ambassador to Sri
Lanka Qi Zhenhong, and Sri Lankan Ambassador to China Majintha Jayasinghe also took part in this event.
