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Iran assures financing of Sapugaskanda Refinery

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The Iranian President Mahmoud Ahmadinejad has informed the Sri Lankan President Mahinda Rajapaksa that the disbursement of the funding promised by Iran to expand the Sapugaskanda oil refinery is been delayed owing to “few technical reasons”.

However Ahmadinejad has assured Rajapaksa that steps will be taken to resolve those issues as soon as possible and release the funds to start expansion work of the Sapugaskanda oil refinery.

Iranian President has given this assurance during bilateral talks held yesterday between the leaders of the 2 nations.

Iran have promised to provide funding to a tune of around US $ 1 billion to expand and upgrade the Sapugaskanda oil refinery and the agreement towards this was signed in April More..

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May 19, 2010 at 8:24 am

Posted in News

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