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ONE YEAR ON, SRI LANKA'S LARGEST FDI PROJECT
Daily Mirror - Sri Lanka
|January 02, 2026
Despite the lapse of almost one year after signing MoU (Memorandum of Understanding), the proposed US $ 3.7 billion investment by Sinopec is yet to see the light of day.
In January 2025, Chinese state-owned oil and gas giant China Petrochemical Corporation which is called Sinopec, entered into an agreement with the government to expedite the construction of a state-of-the-art $ 3.7 billion oil refinery in the investment zone near Hambantota International Port (HIP). The MoU was signed during the visit of President Anura Kumara Dissan
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