Sri Lanka achieved a historic milestone during President Anura Kumara Dissanayake’s visit to China, securing a $3.7 billion investment from Sinopec for a state-of-the-art oil refinery in Hambantota.
The refinery, with a 200,000-barrel capacity, will boost foreign exchange earnings through exports and uplift low-income communities in the region.
The agreement, signed today (16), marks Sri Lanka's largest foreign direct investment to date, expected to significantly drive economic growth.
The signing ceremony was attended by key ministers and dignitaries, highlighting the project’s national importance.