Iranian president Mahmoud Ahmadinejad on Tuesday launched a 1.2 billion dollars project largely funded by Tehran to upgrade Sri Lanka's sole oil refinery, officials said. Ahmadinejad and Sri Lankan president Mahinda Rajapakse planted an ebony sapling to launch work at the Sapugaskande refinery, just outside the capital Colombo. The four-year upgrade will triple Sri Lanka's refinery capacity to 150,000 barrels per day from the current 50,000 barrels.