BOI takes to twitter to quell firestorm related to $ 3.85bn refinery project

March 21, 2019 (LBO) – A media firestorm has erupted over a US$3.85bn refinery project that was trumpeted by Sri Lankan government politicians as the largest FDI in the history of Sri Lanka. The Indian ‘Hindu’ newspaper reported on the deal yesterday:

Following Reuters news story which reported a denial by the Oman Oil Company that it had agreed to invest in the project that BOI, for the first time in history, the BOI has taken to twitter to clear up misconceptions about the project.

Tweets from Sri Lanka’s Board of Investment say that the project is on, and that although no agreements are in place,  the BOI has stated that: “…we are aware that Oman Oil Company has registered their firm intention to participate in equity up to 30%, subject to reaching agreement between the parties.”