CPC SEEKS INVESTORS TO DOUBLE REFINERY CAPACITY

The state-owned Ceylon Petroleum Corporation (CPC) is seeking private investors to either expand its Sapugaskanda refinery from 50,000 to 100,000 barrels per day or to build a new one on the same site.

The initiative is described as a strategic opportunity to form a long-term partnership within the country's energy sector. The project aims to bolster Sri Lanka’s energy security, reduce reliance on imported refined petroleum products, and improve economic stability.

Investors can utilize the existing infrastructure at the Sapugaskanda complex, which includes an offshore mooring system capable of berthing a 140,000 dead weight tonne tanker, along with a 36-inch submarine and 24-inch onshore pipeline to the refinery. The site also features storage tanks for 425,000 cubic meters of crude oil and 100,000 cubic meters for finished products. Other available resources include water from the Kelani River and a power supply.

The total land area for the project spans 324 acres, which includes the existing 95-acre refinery, 106 acres of bare land, 23 acres currently being acquired, and an additional 100 acres identified for future acquisition. The chosen investor is expected to finance the project, provide a share to the CPC for the use of the facility, and transfer ownership of the plant to the corporation at the end of the concession period.