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Sri Lanka gives green light to Singapore firm for PET project

8:33 AM MST | March 4, 2013 | Francinia Protti-Alvarez

The Sri Lankan government has authorized Peak Energy (Singapore) to build a polyethylene terephthalate (PET) manufacturing plant in the port city of Hambantota, Sri Lanka, under the name of Hambana Petrochemicals (Colombo), for which Peak Energy is said to be investing $135–150 million, according to online reports from News360.lk and ColomboPage. The Cabinet Appointed Negotiating Committee (CANC), a government body, confirmed during a meeting held on 28 February that the construction works of the first phase of the Hambantota port development project had...

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