The biggest Foreign Direct Investment (FDI) worth $ 7 billion exports-oriented oil refinery, oil tank farm and a cement manufacturing plant in Hambantota will create 6,000 new jobs in the country, Development Strategies and International Trade Deputy Minister Nalin Bandara said yesterday.
Addressing a media briefing in Colombo yesterday, he said that construction work on the cement manufacturing plant is already in progress while the lease agreement will be signed in the coming days to transfer lands for the oil refinery project in the Mirijjawila Export Processing Zone (EPZ) in Hambantota.
The second phase involves the establishment of a petrochemical industry facility and provision for bunkering services.The by-products of the oil refinery include LPG, bitumen and urea with the latter having big markets in India and Pakistan. The project also includes a 5MW wind power plant and a desalination plant (excess supply will be channeled to people in the area as a CSR gesture) and once completed the entire project will create 6,000 new jobs,” he added.
“The new Oil Refinery complex is the first to be set up after 1968 and is a 100 percent foreign investment from Singapore and the Sultanate of Oman Ministry of Oil and Gas. Around 200 acres of land has been allocated for this project,” Deputy Minister Bandara said.
