Market Chatter: Sinopec to Expedite Construction of $3.7 Billion Sri Lanka Oil Refinery
MT Newswires Live01-23
China Petroleum & Chemical Corp. or Sinopec (SHA:600028, HKG:0386) signed an agreement with Sri Lanka's government to expedite the construction of a $3.7 billion oil refinery in Hambantota, a port in the southern part of the country.
Both Sinopec and the Sri Lankan government will decide together on the share of refined fuel from the refinery, Reuters reported Wednesday, citing Foreign Minister Vijitha Herath.
Herath did not disclose the capacity of the planned refinery.
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