Asia

Sri Lanka explores Saudi fuel credit line

The Minister met Saudi Vice Minister of Foreign Affairs Waleed Al Khuraiji in Riyadh last week, the daily said.

Colombo: Sri Lanka has initiated discussions with Saudi Arabia for a five-year credit line of $6 billion for the supply of fuel on a government-to-government basis, the Daily Mirror reported on Wednesday.
According to Environment Minister Naseer Ahamed, the Sri Lankan President’s envoy to Saudi Arabia, this could provide a long-term solution to the current economic crisis.
Ahamed also proposed Saudi investments in Sri Lanka to manufacture agricultural fertilizer, build petroleum storage facilities, establish fuel supply stations, modernize and expand the refinery, mine minerals and promote renewable energy.
The Minister met Saudi Vice Minister of Foreign Affairs Waleed Al Khuraiji in Riyadh last week, the daily said.
A possible visit of President Ranil Wickremesinghe to Riyadh prior to the Saudi ruler’s visit to Sri Lanka also come up for discussions.
The Environment Minister is an alumnus of the King Fahd University in Riyadh.

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