Mubasher: Omani oil and gas ministry and India’s Accord Group have signed a $3.85 billion deal to build an oil refinery in Sri Lanka.
Located in 585 acres, the new refinery’s production capacity is expected to reach 200,000 barrels per day (bpd).
“The refinery, construction of which is expected to begin on 24 March and be completed in 44 months, is set to produce 9 million metric tonnes of refined products a year for export from the Hambantota port,” Reuters reported citing Sri Lankan officials.
The Omani government is set to hold 30% in the project, while Accord Group will control the remaining stake.
