Sri Lanka will likely approve on Monday a proposal from Chinese state refiner Sinopec to build a $4.5-billion-dollar refinery, Reuters reported.
“It’s on the agenda for Monday. Once the cabinet gives approval, we will invite them to sign the agreement,” Power and Energy Minister Kanchana Wijesekera told Reuters.
Sinopec’s investment of at least $4.5 billion “will go up in value as and when they do additions, but they must first come and sign the agreement for us to give any more details,” Wijesekera said.