USD3.85Bn oil refinery, cement plant projects launched in Sri Lanka’s Hambantota

Hambantota

Mar 25, 2019 (LBO) – Inaugurating the construction work of the US 3.85 billion dollar oil refinery project and the cement manufacturing plant in Hambantota, Prime Minister Ranil Wickremesinghe said the projects will create thousands of job opportunities in the area and surrounding districts.

“These two projects are two mega investment projects that could be considered legacies and assets for the citizens of Hambantota,” he said.

“We have a sea port without ships an air port without planes at Mattala, an international playground without cricket and an international convention hall without conventions.”

These are white elephants vested with us by the previous regime and we will make them tame elephants and money spinners, the Prime Minister added.

He says that the Hambantota oil refinery will boost a barely operated port that has piled debt on the country.

He further said that an extent of 200 acres has been allocated for these projects at the Mirijjawila Export Processing Zone.

The new oil refinery complex is the first to be set up after 1968 and is a one hundred percent foreign investment project from Singapore and the Sultanate of Oman’s Ministry of Oil and Gas.

The refinery is being constructed near a US 1.4 billion dollar port at Hambantota that is controlled by China Merchants Port Holdings.