Singapore’s Peak Energy to build PET plant in Sri Lanka’s port city of Hambantota

05-Mar-13

Sri Lankan Government has given its approval to allow the Singapore based Peak Energy to build a Polyethylene Terephthalate Manufacturing plant in the port city of Hambantota, as per news360.lk. The Singaporean firm has already registered a new firm in Sri Lanka under the name of Hambana Petrochemicals Private Limited, which will bring in an initial investment of US$ 135 mln. SLPA is expected to sign the agreement with the Petrochemical firm very soon. Government will lease out 5 hectares in the Hambantota Port city to the Singaporean firm to build the proposed PET Plant.