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Sri Lanka secures highest FDI from China's Sinopec



Sri Lanka's Ministry of Energy and Sinopec signed an agreement for $3.7 billion investment to construct an oil refinery with a capacity of 200,000 barrels in the Hambantota region.

Under this $3.7 billion investment, a state-of-the-art oil refinery with a capacity of 200,000 barrels will be constructed in the Hambantota region, President’s Media Division (PMD) said.

A substantial portion of the refinery’s output is planned for export, further enhancing the nation’s foreign exchange earnings.

This major investment from China is expected to bolster Sri Lanka’s economic growth while uplifting the livelihoods of low-income communities in the Hambantota area. 

Moreover, the benefits of this project are anticipated to positively impact the overall Sri Lankan population in the near future.

The signing ceremony was attended by Minister of Foreign Affairs, Labour and Tourism Vijitha Herath, Minister of Transport, Highways, Ports and Civil Aviation Bimal Rathnayake and Director General of Government Information H. S. K. J. Bandara, alongside other dignitaries.



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