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International News

Apr 03, 2019

Sri Lankan govt rejects concerns raised over proposed oil refinery project in Hambantota

Sri Lankan government on Tuesday rejected concerns raised over the proposed oil refinery project in Hambantota. 

Minister of Development strategies and International trade Malik Samarawickrema told Parliament that the Oman company is going ahead with the project and the lease agreement for the land will be signed on Thursday. 

He urged the opposition to be patient without making misleading comments. 

Sri Lankan prime minister had laid the foundation stone for the investment project worth 3.85 billion dollars last month in which a company owned by Tamil Nadu politician and former Indian Union Minister Dr. S. Jagathrakshakan is the leading investor. 

However, contradictory reports have surfaced in media about the company’s worth with Transparency International Sri Lanka (TISL) saying the deal could have a negative impact on Sri Lanka’s efforts to remove itself from the grey list of countries vulnerable to money laundering. 

Opposition parties have also questioned the viability of the project and company’s experience. 

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