MIDDLE EAST COUNTRIES EYE SAPUGASKANDA REFINERY EXPANSION: CPC SEEKS STRATEGIC PARTNERSHIPS

Sapugaskanda is Sri Lanka's only petroleum refinery, with guaranteed local demand. The government expects healthy, value-adding proposals that go beyond typical investment models

- By KELUM BANDARA

Some countries in the Middle East have taken a keen interest in investment in the expansion of the Sapugaskanda refinery, and the Ceylon Petroleum Corporation (CPC), which has now called for Expressions of Interest (EOI), will prioritise investors coming up with a better package with the agreement to supply crude oil and buy back refined products afterwards, an official said.