Sri Lanka's foreign minister said on Wednesday that the South Asian island nation had signed an agreement with Chinese state energy giant Sinopec to fast-track a proposed $3.7 billion oil refinery in its southern port city of Hambantota.
Sri Lanka and China did not mention the end of the former's moratorium on visits by foreign research vessels but indicated commitment to ‘maritime cooperation’.
Sri Lanka is crucial for China’s growing geopolitical ambitions in the Indian Ocean Region. This is bad news for India.
As China refines its strategy on the Indian Ocean island, it is posing a significant challenge to Japan’s long-held influence in Sri Lanka.
Sri Lanka's foreign policy has often been slammed for its lack of consistency, but rarely have such sentiments been voiced by those in power. Recently, Prime Minister Harini Nireka Amarasuriya acknowledged these shortcomings,
The new deals ‘signal a deepening of China’s influence in Sri Lanka’ and revive concerns of a debt trap, analysts say.
Xiong Hongfeng, a manager at China Harbour Engineering Co, said that the project, once completed, is expected to attract nearly $15 billion in foreign direct investment, increase the Sri Lankan government's fiscal revenue by $5 billion, and create over 400,000 high-quality local jobs.
BEIJING, Jan. 17 (Xinhua) -- "Sri Lanka and China are ushering in a new chapter in bilateral relations," Sri Lankan President Anura Kumara Dissanayake has said.
During his visit to China from January 14-17, Sri Lankan President Anura Kumara Dissanayake secured several agreements, including a $3.7 billion deal with Sinopec to set up an oil refinery in Hambantota. The Sri Lankan foreign minister is expected to reveal details of 15 other agreements soon.
In our interconnected world, one nation’s economic choices can greatly impact others, regardless of distance. As global instability continues, the actions of influential leaders carry significant weight.
China's Sinopec has asked for 200 acres more land for its planned 3.7 billion dollar refinery expected to be built in Hambantota, Foreign Minister Vijitha Herath said.
Sri Lanka’s foreign minister said on Wednesday that the South Asian island nation had signed an agreement with Chinese state energy giant Sinopec