Sri Lankan Prime Minister Ranil Wickremesinghe on Sunday laid the foundation stone for a $4-billion oil refinery in the southern, strategically located port town of Hambantota. The project will come up at the investment zone next to a port that Sri Lanka has leased out to a Chinese state-run firm for 99 years.
The mega project has drawn much interest in the past week, after Sri Lanka’s Board of Investment (BOI) announced that a Singapore-registered firm, along with Oman, was bringing in the investment.
Singapore-registered firm, Silver Park International, said to be bringing in 70% of the share capital, was linked to an Indian business. Three out of four directors of the firm were from the family of Dravida Munnetra Kazhagam (DMK) politician and businessman S. Jagathrakshakan. Remember Jagathrakshakan is DMK candidate from Arakonnam in this Lok Sabha polls.