Updated By: LatestGKGS Desk
China to gear up with India to establish second oil refinery IOC
Sri Lanka to tie join hands with India to establish a second refinery with Indian Oil Corporation
The head of State run Ceylon petroleum has notified that the new refinery will be built at the eastern port city of Trincoomalee to export fuel to other countries.
PM Narendra Modi pledged to establish a petroleum hub in Trincomalee near the world’s deepest Natural Harbour.
Sri Lanka operates 15 oil tanks in Trincomalee
In trincoomalee, there are 99 tanks out of which Sri Lanka operates 15 oil tanks, so the government has asked the company to operate the unused 84 tanks.
Sri Lanka was given the control in the year 2001 for 30 years.
Sri Lanka will built a 1, 00,000 barrels per day refinery with Indian Oil Corporation.
Indian Government will join hands with China to establish a refinery and it will take four years to do this.
