Sri Lanka Secures Record-Breaking $3.7 Billion FDI During State Visit to China

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Sri Lanka achieved a historic milestone by securing its largest-ever foreign direct investment (FDI) during President Anura Kumara Dissanayake’s recent four-day State visit to China.

The landmark agreement was signed between Sri Lanka’s Energy Ministry and Sinopec, a leading Chinese petroleum corporation, on January 16.

Key Highlights of the Investment:

  • Project Value: USD 3.7 billion.
  • Development: Construction of a state-of-the-art oil refinery in Hambantota with a production capacity of 200,000 barrels per day.
  • Economic Impact: A significant portion of the refinery’s output will be allocated for export, boosting Sri Lanka’s foreign exchange earnings.
  • Community Benefits: Expected to enhance economic growth, provide job opportunities, and uplift the livelihoods of low-income communities in the Hambantota region.

The signing ceremony in China was attended by high-ranking officials, including:

  • Vijitha Herath, Minister of Foreign Affairs, Labour, and Tourism.
  • Bimal Rathnayake, Minister of Transport, Highways, Ports, and Civil Aviation.
  • H.S.K.J. Bandara, Director General of Government Information.

This strategic investment not only strengthens ties between Sri Lanka and China but also represents a pivotal step in accelerating Sri Lanka’s post-crisis economic recovery and long-term development goals.

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