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BoI confirms setting-up oil refinery and cement factory projects

Director General,  Board of Investment (BoI) Champika Malalgoda said  that a US$ 3.85 billion oil refinery and a  US $ 100 million cement factory will set up at the   Mirijjawila Export Processing Zone in Hambantota. The oil refinery is a joint venture project of Silver Park International Pvt. Ltd. of Singapore and the Sultanate of Oman's Ministry of Oil and Gas.

However, the Oman institution had reportedly denied being part of this project and announced at a press conference in Oman that they  have no such intention to be a partner of the project. In response to that Malagoda told the The Island Financial Review: " We  were not aware of the denial and when we enquired from the Oman authorities they  told us that they have still not taken a decision on this project and that it is still  under discussion".  


Sri Lanka to discuss draft national policy on LNG

The Ministry of Highways & Road Development together with Petroleum Resources Development has developed the draft national policy on natural gas with a view to establish and develop the natural gas industry in Sri Lanka.

With the view o...

eZ Cash partners Fintrex Finance to facilitate easy leasing payments


Sri Lanka’s first and largest Mobile Money and Payment Service, eZ Cash, announced its most recent partnership with Fintrex Finance Limited, in order to enable customers to pay their leasing payments via eZ Cash.

All Fintrex Finance cust...

Ceylinco Life honours 243 stars of company’s 15th straight year of market leadership


Ceylinco Life celebrated its achievement of 15 consecutive years of market leadership with a spectacular annual awards gala at which 243 of the company’s top performing sales professionals and staff were honoured for their contributions with 4...

Saving his future

Once upon a time, there was a young boy called Lal who was late for everything. He had many friends and they were all late, but nobody cared. They lived on an idyllic island where things moved at a slower pace than the outside world. The only occasion ...

Seylan Bank: Title sponsor and official banking partner for Kadella Construction Expo 2019


The Bank with a heart extended its presence as the title sponsor and official banking partner for Kedella Construction Expo 2019, Sri Lanka’s most sought after housing exhibition for the sixth consecutive year.

Organised by the Asia E...

SriLankan Airlines scores the second hat-trick at Golden City Gates Awards 2019


SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance, reaffirming the global appeal and innovativeness of its marketing communication endeavours yet again, won three awards at Golden City Gates Awards 2019 at...

SL's share index dips for third straight session

Sri Lanka’s share index fell for the third straight session yesterday  and in terms of trading volume foreign investors are on the selling side, as the market awaits clear direction from the third and final vote on the 2019 budget, market...

Aquifer Management Systems revitalise resettled communities


Muthun Murugaiya provides water for 15 families. The 60-year-old has the only working well in the neighbourhood in his front garden. Just feet away, the community well lies dry – groundwater is low in the village of Veemankamam in Sri Lanka&rs...

Budget seminar by CNCI with proposed changes


The Ceylon National Chamber of Industries - CNCI, has scheduled a full day budget seminar focused on the Salience of the National Budget 2019 to the Private Sector, Proposed Changes, Sales-based Taxes and also the new Inland Revenue Act. This important...

Finding the right balance in banking convenience


Technology has made the world a better place by shaping everything, from our day to day operations to the lifestyle we lead, technology is redefining convenience in whatever we do. As countries uplift their digital and physical infrastructure to emb...

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