Hambantota International Port Group (HIPG) and the Ceylon Petroleum Corporation (CPC) signed a Memorandum of Understanding (MoU) to develop Hambantota Port as a strategic energy centre in Sri Lanka.
As part of the agreement, CPC will establish a separate storage terminal 15 km from the port with associated facilities for both domestic and export purposes connected to the port via a pipeline.
State-entity CPC, which provides the majority of petroleum products to local consumers, has identified a land area of approximately 50 acres owned by Sri Lanka Mahaweli Authority for the project.
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