evidence: Sinopec Energy Lanka CEO Yu Yuhua said the company is set to commence operations in Sri Lanka within 45 days following the issuance of the license. Sinopec Energy Lanka (Pvt) Ltd and the Board of Investment of Sri Lanka (BOI) have signed an agreement (Dated 14, July 14, 2023) to operate and set up fuel stations for distribution in Sri Lanka. Sinopec has invested $100 million in the project, which includes the import, storage, and sales of fuel. The project will involve 150 privately-owned fuel outlets currently operated by the Petroleum Corporation. Additionally, 50 new fuel stations will be established. The agreement allows the project to operate for 20 years under the oversight of Sinopec Energy Lanka, in accordance with the Sri Lanka Board of Investment Act No. 17. Sinopec will sell various petroleum products, including 92 and 95 octane petrol, 500 PPM diesel, diesel 10 COPPM, petroleum jet fuel, and other diesel and petroleum products. Further, to provide value-added services such as automatic car wash and car service facilities, department stores, convenience stores, internet cafes, automated teller machines, and food courts. To expand to new energy services such as photovoltaic, electric charging stations, battery swapping, and other related services in the local market.