Sri Lanka invites Saudi majors to set up refinery

Central bank governor proposes oil refinery could be set up Hambantota, in the country's south

Picture for illustrative purpose.
Picture for illustrative purpose.

Sri Lanka has invited Saudi Arabia to set up a petroleum refinery in the southern part of the island nation, the country’s Central Bank Governor Arjuna Mahendran recently said in Riyadh.

According to Arab News, Mahendran said that the proposed refinery could be set up in Hambantota, some 500km away from capital Colombo. Hambantota hosts a fully operational port, which could export crude and refined oil to other countries.

He urged Saudi oil and gas majors such as SABIC and Saudi Aramco to invest in the project.

In addition to meeting the needs of Sri Lanka, he said such a refinery could tap markets in neighbouring nations India, Pakistan and Bangladesh, Arab News reported.

Mahendran, who was leading an official business delegation to the Kingdom, held talks with Saudi Arabian Monetary Agency (SAMA) governor Fahad bin Abdullah Al-Mubarak on Tuesday.

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