In a program held on Derana TV channel, Minister of Power and Energy Kumara Jayakody answered questions posed by journalist Kalidu Karunaratne regarding the investment by the Chinese company Sinopec.
During this discussion, questions were also raised about the statements made by National People’s Power MP Lakmali Hemachandra in the program about fourteen days ago.
The representative of the National People’s Power has stated that the Sinopec investment is the largest foreign direct investment in the history of the country, that the investment took place during her tenure, that the agreement was signed with the National People’s Power, and that the agreement was not signed with anyone who claimed to be signing it. However, the Minister emphasized that this statement is not correct.
The Minister explained that this investment was not just a Memorandum of Understanding (MOU), but was done through a procurement process. Accordingly, an Expression of Interest (EOI) was called in 2022, after which proposals were received, and Sinopec was selected as the project.
Initially, seven companies submitted bids, and finally two companies, Sinopec and Vitol, were left. After Vitol withdrew its bid, the Sinopec project began in 2022. The Minister emphasized that they are now following the correct procurement procedure that existed before, and if there is a procedure that has been initiated by someone, it is their responsibility to continue it properly.