Middle East Economic Survey

VOL. LI

No 18

5-May-2008

IRAN

Iran Signs MOUs With Sri Lanka For Refinery Expansion And Hydropower Project

Irans President Mahmoud Ahmadinejad and Sri Lankas President Mahinda Rajapakse signed memorandums of understanding (MOUs) in Colombo on 28 April for a Sri Lankan refinery expansion and a hydroelectric power project. The four-year expansion of the Sapugaskande refinery near Colombo is expected to cost $1.2bn and will raise crude distillation capacity from 50,000 b/d...