China’s leading international petroleum company, Sinopecas  has  commenced its operations in the country on July 15) as an importer, distributor and retail operator for petroleum products, according to State Minister Dilum Amunugama.

 

Sinopec Energy Lanka (Pvt) Limited – the Beijing-based company’s subsidiary in Sri Lanka – signed an agreement with the Board of Investment (BOI) on Friday (July 14) to operate and set up filling stations for fuel distribution on the island nation.

Sinopec has invested USD 100 million in the project, which includes import, storage and sales of fuel.In addition, Sinopec will establish 50 new filling stations in the country.