FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» Do your own Stock Market Research using AI Tools
by Quibit Today at 10:50 am

» What will happen tomorrow?
by cheetah Yesterday at 12:07 pm

» Focus on Government controlled entities
by ErangaDS Mon Jun 10, 2024 4:15 pm

» FINANCE AND LEASING SECTOR
by SL-INVESTOR Mon Jun 10, 2024 6:14 am

» HSENID BUSINESS SOLUTIONS PLC (HBS.N0000)
by K.R Fri Jun 07, 2024 10:45 am

» Colombo Stock Market: Over Valued against USD!
by God Father Mon Jun 03, 2024 3:17 pm

» Financial Woes at Richard Pieris Group
by DeepFreakingValue Sat Jun 01, 2024 11:29 pm

» Report a Tax Evasion and Get Rewarded upto 15%
by God Father Fri May 31, 2024 11:51 am

» LankaGPT Platform Launched in Sri Lanka
by God Father Wed May 29, 2024 11:46 pm

» Sri Lanka’s Popularity Is Surging With Travelers. Here’s Where To Go
by ResearchMan Wed May 29, 2024 1:10 pm

» CDB Non voting
by buddikasmart Wed May 29, 2024 8:03 am

» Will share market be taxed after new Gazette./manik de silva
by D.G.Dayaratne Mon May 27, 2024 2:14 pm

» PEOPLE'S INSURANCE PLC (PINS.N0000)
by Ekanayake90 Mon May 27, 2024 7:29 am

» Seylan Bank did not pay final coupon of expired debentures
by Gaudente Wed May 22, 2024 2:32 pm

» Sri Lanka: Stock Market Fraudsters with Criminal Prosecutions
by agentnrox Wed May 22, 2024 1:50 pm

» Richard Pieris Exports PLC (REXP.N0000) future looks bleak!
by God Father Mon May 20, 2024 10:08 pm

» Sri Lanka key Economic Indicators and Future Outlook for 2024
by God Father Mon May 20, 2024 6:06 pm

» EXPO.N - Expo Lanka Holdings De-Listing
by glad Mon May 20, 2024 9:27 am

» CBSL Pension Fund vs EPF
by God Father Thu May 16, 2024 9:13 am

» Nations Trust Bank: Consistent growth
by ErangaDS Wed May 15, 2024 8:46 am

» SOFTLOGIC LIFE INSURANCE PLC (AAIC.N0000)
by soileconomy Wed May 15, 2024 4:01 am

» Falsified accounts and financial misrepresentation at Arpico Insurance PLC (AINS)
by DeepFreakingValue Tue May 14, 2024 12:20 am

» Potential Super Gain with HSIG
by Investment 1st Mon May 13, 2024 12:20 am

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube


You are not connected. Please login or register

Lanka seeks long-term credit line from KSA to procure oil

Go down  Message [Page 1 of 1]

samaritan

avatar
Moderator
Moderator

Lanka seeks long-term credit line from KSA to procure oil Naseer-Ahamed

Environment Minister Naseer Ahamed initiates talks

Special Envoy of President Ranil Wickremesinghe to the Kingdom of Saudi Arabia (KSA), Environment Minister Naseer Ahamed has entered into discussions with the Saudi government, seeking Riyadh’s collaboration with Colombo, for a five-year credit line of US $ 6 billion per annum for the supply of fuel, on a government to government basis as a long-term solution to Sri Lanka’s current economic crisis, sources disclosed.

Minister Ahamed as special envoy also proposed Saudi investments in Sri Lanka for manufacturing fertiliser, constructing petroleum storage facilities, establishing fuel supply stations, modernising and expanding the refinery, opportunities in mining minerals and promoting renewable energy.

During the meeting with the Saudi Vice Minister of Foreign Affairs, Waleed Al Khuraiji, in Riyadh, last week, Minister Ahamed intimated President Wickremesinghe’s desire to invite the Saudi Crown Prince Mohammed bin Salman to visit Sri Lanka at his convenience. A possible visit of President Wickremesinghe to Riyadh, prior to the Saudi ruler’s visit to Sri Lanka, had also surfaced in the discussions, sources said.

At the meeting with Eng. Mansour bin Hilal Al Mushaiti, Vice Minister of Environment, Water and Agriculture, Special Envoy and Environment Minister Ahamed referred to the role of coconut peat in the 10 million trees project of the Saudi Green Initiative and the possibilities of the Saudi Ministry investing in a coco-peat venture in Sri Lanka, and also setting up a fertiliser manufacturing project, that may help Sri Lanka achieve self-sufficiency in food. The Ministers followed up with a visit to the Saudi Basic Industries Corporation (SABIC) which produces fertilisers, industrial polymers, triple phosphate fertiliser and petrochemicals. ‘SABIC’ had responded with its readiness to supply Sri Lanka’s requirements, on a government to government basis, or to the private sector.

The Sri Lankan Minister also called on the Saudi Development Fund. Its CEO, Dr. Sultan Al Marshad said that the Fund is principally a development partner in projects and a lending agency. They would take a flexible approach, if invited for the meetings relating to the restructuring of Sri Lanka’s loans with other lending nations and entities, and that the Fund’s participation can benefit Sri Lanka.

The Special Envoy also visited the ACWA Power headquarters, in Riyadh, an entity which had made investments worth US $ 2.4 billion, in Uzbekistan, on 22nd August, this year, on a 1.5 GW wind farm project, and invited the group to explore investment opportunities in Sri Lanka. ACWA Power had already indicated interest in investing, in the range of US $ 600 to 800 billion, in Sri Lanka.

According to an internal report, received by the government from Riyadh, the Arabic speaking Environment Minister of Sri Lanka, “an alumnus of the King Fahd University of Petroleum and Mineral, in Riyadh, had received considerable recognition during all his engagements with the Saudi establishments, widening considerably the scope for cooperation between the two countries”.

The Environment Minister was in Saudi Arabia, from 28 August to 1st September, and was accompanied by Sri Lanka’s Ambassador to Saudi Arabia, P. M. Amza, and other officials. The Minister is understood to have briefed the President and the Cabinet on Monday.


https://island.lk/lanka-seeks-long-term-credit-line-from-ksa-to-procure-oil/

Share this post on: reddit

No Comment.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum