Sapugaskanda Oil Refinery Expansion: RFP to Be Presented to Sri Lanka's Cabinet in August 2026

 

Sri Lanka's Ceylon Petroleum Corporation (CPC) is set to present the long-delayed Request for Proposal (RFP) for the expansion of the Sapugaskanda Oil Refinery to the Cabinet of Ministers in August 2026, with CPC Managing Director Dr. Mayura Neththikumarage confirming that Cabinet approval is now the only remaining step before the RFP can be issued to shortlisted investors; the multi-billion-dollar project, structured under a Build-Operate-Transfer (BOT) model, aims to modernise Sri Lanka's sole oil refinery — operational in Sapugaskanda since 1969 — by doubling its refining capacity from 50,000 to 100,000 barrels per day, with a strategic investor expected to finance, construct, and operate the upgraded facility before transferring ownership back to the State at the end of the concession period; the update follows completion of the Expressions of Interest (EOI) evaluation and the appointment of a Technical Evaluation Committee earlier this year, after the project had stalled short of the RFP stage for reasons the CPC has not publicly detailed, and it is expected to revive a refinery expansion long regarded as central to strengthening Sri Lanka's energy security and reducing dependence on imported refined petroleum products.

Source: https://www.themorning.lk/articles/IFqFDjmy6GW9DdScJzuy 

Cabinet Approves 35-Year Land Leases for 23 New Industrial Projects Across 13 Regional Industrial Estates in Sri Lanka

 

The Ministry of Industry and Entrepreneurship Development's regional industrial estate development program, which develops basic infrastructure on lands identified for industrial use and then allocates them to suitable investors, has reached a new milestone with the Cabinet of Ministers approving the allocation of plots from 13 regional industrial estates to 23 investors on a 35-year lease basis for the establishment of new industries; the recommendation followed an evaluation of investment proposals by the Regional Industrial Service Committee, constituted under the Industrial Promotion Act No. 46 of 1990, together with the Ministry's Project Evaluation Committee, and the 23 approved projects represent investments valued at approximately Rs. 2,805.26 million and are expected to generate around 870 direct job opportunities, with the resolution formally furnished by the Minister of Industry and Entrepreneurship Development.

Cabinet Decisions: 27th July 2026

Sri Lanka to Host Green Climate Fund's Regional Dialogue for East and South Asia in Colombo

Sri Lanka has been selected by the Asia Pacific group of the Green Climate Fund (GCF) — the financing mechanism established under the United Nations Framework Convention on Climate Change to help developing countries cut greenhouse gas emissions and adapt to the impacts of climate change — to host the Regional Dialogue for the East and South Asia Regions of the Green Climate Fund, an event that brings together roughly 120 representatives from 11 countries to review climate change projects and programmes, exchange challenges and lessons learned, and build partnerships and new strategies for accessing GCF financing; following the Cabinet of Ministers' approval of a resolution presented by the Minister of Environment, the dialogue is scheduled to be held in Colombo from 14 to 17 September 2026, alongside the signing of an agreement between the Government of Sri Lanka and the Green Climate Fund.

Source: Cabinet Decisions 27th July 2026 (https://www.dgi.gov.lk/images/2026/07/Cabinet_Decision_on_27.07.2026_English.pdf)