IndianOil to set up refinery in Sri Lanka for Rs 20,000 cr
Indian Oil Corporation (IOC) will set up its first refinery outside India with an investment of up to Rs 20,000 crore in Sri Lanka. It will thus become the second Indian company to have a refinery abroad. The Ruias-promoted Essar Energy owns the Stanlow refinery in the UK and has 50 per cent interest in Kenya Petroleum Refinery.
State-run Indian Oil Corporation (IOC) is planning to set up a 6 million tonne per annum (mtpa) greenfield refinery in Sri Lanka. The proposal was
Sri Lanka to build second oil refinery with Indian Oil
Oct 10, 2016· Sri Lanka announced plans to build a second oil refinery with a capacity of at least 100,000 barrels per day (bpd) together with India’s largest state-owned oil company Indian Oil Corp. (IOC). Lanka IOC, the Sri Lankan subsidiary of Indian Oil Cor. operates 189 fuel retail outlets, a lubricant blending plant, and 15 storage tanks
Aug 01, 2012· July 30, Colombo: Indian Oil Corporation (IOC) will set up a refinery in Sri Lanka with an investment up to US$ 3.6 billion, a report in Business Standard said. IOC, which already has a venture in Sri Lanka through its subsidiary Lanka IOC, operates 10 refineries in India and the one in Sri Lanka will be its first refinery outside India.
IndianOil to set up refinery in Sri Lanka for Rs 20,000 cr
Indian Oil Corporation will set up its first refinery outside India with an investment of up to Rs 20,000 crore (Rs 200 billion) in Sri Lanka. It will thus become the second Indian company to
Lanka IOC (LIOC), IndianOil’s subsidiary in Sri Lanka, is the only private oil company that operates retail petrol/diesel stations in Sri Lanka. Lanka IOC was incorporated in 2003 to carry out retail marketing of petroleum products and bulk supply to industrial consumers with 100 CPC-owned petrol/diesel stations.
India news: Construction begins on $4bn Sri Lanka oil
Mar 26, 2024· Construction work has started on a $3.9bn (OMR1.5bn) oil refinery in Sri Lanka that is jointly funded by Oman’s Ministry of Oil and Singapore-based Silver Park International, an investment company owned by India’s family-run Accord Group. The oil refinery is being built near Sri Lanka’s Port of Hambantota, which was leased to a Chinese state-owned company in 2024 for 99 years.
The refinery, built in 1960s was able to handle only Iranian and Saudi light crude. The 50,000 barrels per day refinery needs modification and Sri Lanka was talking to Iran in this regard in 2008. Sri Lanka said that it was seeking alternative crude oil suppliers in view of the US sanctions on Iran coming into force around June this year.
Lanka breaks ground for oil refinery with investments from
Colombo: Sri Lanka on Sunday began construction of a USD 3.85 billion oil refinery next to a Chinese-run port as part of a joint venture between India's Accord Group and Oman's oil ministry, the island nation's biggest foreign direct investment ever. Prime Minister Ranil Wickremesinghe, whose 70th birthday coincided with the ground-breaking ceremony, said that with investments coming from
Mar 25, 2024· Rumhy joined Sri Lankan Prime Minister Ranil Wickremesinghe at the laying of the foundation stone for the planned $3.85 billion oil refinery at Hambantota on the south coast, which would potentially be the island's biggest foreign direct investment. ALSO READ: Lanka breaks ground for oil refinery with investments from Indian firm & Oman "This is not a project just for three years.