Chinese Sinopec set to enter fuel distribution business in SL

Representatives from the Chinese company – Sinopec today met with President Ranil Wickremesinghe on entering the fuel distribution business in Sri Lanka

The President’s office said “during a discussion with the representatives of the Sinopec Group held at the Presidential Secretariat this morning the President said that the government has taken a principled decision to expand the distribution of fuel..”.

The statement from the President’s office said  Hambantota has been identified as a primary energy hub.

Sinopec has also pledged to invest in a refinery in Hambantota, the President’s office said.

"Visiting delegation from Sinopec Group, China met with the  President this morning. Intentions of Investments in Petroleum Products Storage, Distribution & Sales, Investments for a new Refinery in Hambantota & other potential energy sector investments was discussed," Power and Energy Minister Kanchana WIjesekara added in a twitter message. 

Meanwhile the Chinese Embassy in Colombo in a twitter message said "On Monday (13), Ambassador Qi Zhenhong met with visiting Vice President of China Harbour Engineering Company, a subsidiary of China Communications Construction (60th in 2022 Fortune Global 500) and discussed expediting Port City Colombo and other FDI to help