OTHER NEWS
|
|
|
|
Advertisement
|
Print Version | Email to friend
Iranian president launches $1.2 billion energy project in Sri Lanka 29-04-2008
Iranian President Mahmoud Ahmadinejad on Tuesday launched a $1.2-billion project largely funded by Tehran to upgrade Sri Lanka's sole oil refinery, officials said.
Ahmadinejad and Sri Lankan President Mahinda Rajapakse planted an ebony sapling to launch work at the Sapugaskande refinery, just outside the capital Colombo.
The four-year upgrade will triple Sri Lanka's refinery capacity to 150,000 barrels per day from the current 50,000 barrels.
Iran, which supplies 70 percent of Sri Lanka's oil needs, has agreed to pay for $700 million of the upgrade, petroleum minister A.H.M. Fowzie said at the ceremony.
With the upgrade, Sri Lanka hopes to be self-sufficient in aviation fuel and tar.
President Rajapakse thanked the Iranian people for their financial assistance and praised Tehran for showing 'the spirit of friendship to assist us to establish a modern oil refinery.'
Speaking through a translator, President Ahmadinejad said Iran has always assisted nations that are seeking independence and trying to be self-reliant.
'Iran has always given development assistance and is not afraid of those who oppose that task since evil forces in the world are not eternal,' Ahamedinejad said, adding that bilateral relations had now 'reached great heights.'
Bad weather, however, prevented the Iranian leader from inaugurating the Tehran-funded $450-million Uma Oya irrigation project in Wellawaya, southeast of Colombo.
The plant will add 100 megawatts to the national grid once completed in the next four years.
Ahmadinejad left Sri Lanka on Tuesday for India.
Print Version | Email to friend
|