The Government has decided to operate the Sapugaskanda Oil Refinery as a public enterprise independent of the Ceylon Petroleum Corporation (CPC).

The proposal to this effect submitted by Power and Energy Minister Kanchana Wijesekera was approved by the Cabinet of Ministers at its meeting on Monday.

“The rationale behind the move stems from the necessity of a ‘critical investment’ to modernise and upgrade the ageing infrastructure of the refinery. The aim is to ensure its operational efficiency and viability for at least another 25 years,” the Government Information Department noted.