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Posts tagged as “termination”

SL cancels $ 4 b Hambantota oil refinery project by irresponsive Singapore firm

By Charumini de Silva in The Daily FT, Aug 16, 2023In a decisive move, the Cabinet of Ministers approved the termination of what was once described as the ‘largest-ever foreign direct investment agreement between the Board of Investment (BOI) and Hambantota Oil Refinery after years of protracted inaction to fulfil the stipulations of the contract. “Lack of engagement and failure to honour the commitments outlined in the agreement has prompted President Ranil Wickremesinghe in his…