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Energy Talks With Sri Lanka
Iranian Deputy Oil Minister Mohammed Reza Nematzadeh arrived in Sri Lanka on Friday to finalize oil and petrochemical agreements signed by the two sides.
Nematzadeh, who is also the chairman of the National Iranian Oil Refining and Distribution Company (NIORDC), is scheduled to attend talks with Sri Lankan officials to finalize the Engineering, Procurement and Construction (EPC) contract of the billion dollar Iranian-funded improvement and expansion project for the Ceylon Petroleum Corporation-owned refinery at Sapugaskanda, ISNA wrote.
The refinery at Sapugaskanda was constructed in 1969. The Sapugaskanda Refinery quality enhancement and expansion project, estimated to cost nearly $1.1 billion is one of Iran’s top project aid to make Sri Lanka self-sufficient in refining all its oil requirements within the country in addition to meeting over 75 percent of the island’s need to liquefied petroleum gas (LPG), bitumen, jet oil, kerosene and fuel oil, all bi-products of the refinery.
The refinery produces only 10 percent of the island’s need to the said products.
Sri Lanka’s Ambassador to Iran M.M. Zuhair said Nematzadeh has made efforts to facilitate this project for Sri Lanka, preceding the visit by President Mahinda Rajapaksa to Iran in November last year.
“Since then, the Iranian deputy oil minister has followed up on this project at every stage at the order of Iranian President Mahmoud Ahmadinejad, who visited Sri Lanka in May,“ the envoy added.
Nematzadeh, who is also the chairman of the National Iranian Oil Refining and Distribution Company (NIORDC), is scheduled to attend talks with Sri Lankan officials to finalize the Engineering, Procurement and Construction (EPC) contract of the billion dollar Iranian-funded improvement and expansion project for the Ceylon Petroleum Corporation-owned refinery at Sapugaskanda, ISNA wrote.
The refinery at Sapugaskanda was constructed in 1969. The Sapugaskanda Refinery quality enhancement and expansion project, estimated to cost nearly $1.1 billion is one of Iran’s top project aid to make Sri Lanka self-sufficient in refining all its oil requirements within the country in addition to meeting over 75 percent of the island’s need to liquefied petroleum gas (LPG), bitumen, jet oil, kerosene and fuel oil, all bi-products of the refinery.
The refinery produces only 10 percent of the island’s need to the said products.
Sri Lanka’s Ambassador to Iran M.M. Zuhair said Nematzadeh has made efforts to facilitate this project for Sri Lanka, preceding the visit by President Mahinda Rajapaksa to Iran in November last year.
“Since then, the Iranian deputy oil minister has followed up on this project at every stage at the order of Iranian President Mahmoud Ahmadinejad, who visited Sri Lanka in May,“ the envoy added.
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