Sinopec inks agreement with BOI

Sinopec Energy Lanka (Pvt) Ltd China and the Board of Investment of Sri Lanka (BOI) have signed an agreement on July 14, 2023 to operate and set up fuel stations for distribution in Sri Lanka. Sinopec has invested $100 million in the project, which includes the import, storage, and sales of fuel. The project will involve 150 privately-owned fuel outlets currently operated by the Petroleum Corporation. Additionally, 50 new fuel stations will be established. State Minister Dilum Amunugama,CEO Sinopec Yu Yuhua,Chairmen of the Board of Investment of Sri Lanka Dinesh Weerakkody and others were present in th signing. Pix by Pradeep Pathirana