China and India vie for influence in Sri Lanka
Edited By WION Video Desk
Published: Apr 26, 2024, 05:45 IST | Updated: Apr 26, 2024, 05:45 IST
Chinese energy giant SINOPEC is setting its sights on Sri Lanka's energy market. They plan to build a $4.5 billion refinery, the island nation's largest foreign investment ever. This would be SINOPEC's first wholly-owned overseas refinery. However, Sri Lanka wants the refinery to produce fuel for domestic consumption, while SINOPEC sees higher profits in selling it abroad.
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