Indian-Omani group signs USD 3.8 billion deal to build Sri Lanka refinery

Posted on:21 Mar 2019 10:45:29
Indian-Omani group signs USD 3.8 billion deal to build Sri Lanka refinery
21 March 2019 Current Affairs: India's Accord Group and Oman's oil ministry have signed a $3.85 billion deal to build an oil refinery in Sri Lanka.
This is the biggest single pledge of FDI (Foreign Direct Investment) ever made in the country.
The project will be located near the southern Sri Lankan port of Hambantota, which was handed over on a 99-year lease to a state-owned Chinese company.
Privately-owned Accord Group will control 70 per cent of the joint venture and the Sultanate of Oman's Ministry of Oil and Gas the rest.
The refinery is expected to produce 9 million metric tonnes of refined products a year for export from the Hambantota port, which serves the busiest East-West shipping route.
India's Accord Group and Oman's oil ministry have signed a $3.85 billion deal to build an oil refinery in Sri Lanka.
This is the biggest single pledge of FDI (Foreign Direct Investment) ever made in the country.
The project will be located near the southern Sri Lankan port of Hambantota, which was handed over on a 99-year lease to a state-owned Chinese company.
Privately-owned Accord Group will control 70 per cent of the joint venture and the Sultanate of Oman's Ministry of Oil and Gas the rest.
The refinery is expected to produce 9 million metric tonnes of refined products a year for export from the Hambantota port, which serves the busiest East-West shipping route.

Daily Current Affairs Videos Video Link
17th April 2019 Current Affairs Video
16th April 2019 Current Affairs Video
15th April 2019 Current Affairs Video
13th April 2019 Current Affairs Video
12th April 2019 Current Affairs Video
Watch more Current Affairs Videos

Monthly Current Affairs

Fresherslive telegram Group

Card image cap

Current Affairs Section

Daily Current Affairs Quiz


Subscribe to Current Affairs

Enter your email to get daily current affairs


Current Affairs Weekly PDF

Current Affairs Monthly PDF

Current Affairs Quiz

Current Affairs Monthly PDF Hindi

Currentt Affairs 2019 April

18 APRIL
NEWS
17 APRIL
NEWS
16 APRIL
NEWS

Currentt Affairs 2019 March

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS

Currentt Affairs 2019 February

28 FEBRUARY
NEWS
27 FEBRUARY
NEWS
26 FEBRUARY
NEWS
25 FEBRUARY
NEWS




×

Only 1 day left !