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* Sri Lanka's BOI clarifies status of investment in Oil Refinery Project in Hambantota
Thu, Mar 21, 2019, 07:23 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 21, Colombo: Sri Lanka's Board of Investment (BOI) responding to a Reuters report which said the Oman's oil ministry denied being part of a $3.85 billion plan to build an oil refinery in Hambantota, clarified the status of the investment in the project.

Sri Lankan officials said Oman oil ministry and Silver Park International PTE Ltd - a Singapore investment vehicle owned by India's Accord Group had agreed to build the 200,000 barrel per day refinery near Hambantota port.

The BOI in a statement said no agreement has been signed between Oman's Ministry of Oil and Gas and the investor Silver Park International PTE Ltd with regard to equity arrangements of the project. However, Silver Park International PTE Ltd has conveyed their full confidence in implementing the project.

"We refer to the recent Reuters news report with regard to the above project. We are aware that there is no agreement that has been signed between Oman's Ministry of Oil and Gas and Silver Park International PTE Ltd with regard to equity arrangements of the project. " "However, we are aware that Oman Oil Company has registered their firm intention to participate in equity up to 30%, subject to reaching agreement between the parties. Furthermore, we are aware that Oman Trading International is willing to supply the entire feedstock requirement of the project as well as do the marketing for the products, upon reaching mutually agreed terms. The investor - Silver Park International PTE Ltd - has conveyed to the Board of Investment their full confidence in implementing the project."

 

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