Sri Lanka and China have taken yet another major step towards economic cooperation. In a landmark deal, Sri Lanka has secured a record-breaking $3.7 billion foreign direct investment with Sinopec, a Chinese state-run oil giant.

Sri Lanka stands the chance of attracting investments from Chinese companies amounting to around US $ 10 billion as a result of President Anura Kumara Dissanayake’s state visit, Daily Mirror learns. .

China will continue to play a "positive role" in the International Monetary Fund and maintain friendly communication with other creditors, in assisting Sri Lanka to achieve financial relief and debt sustainability,

Sri Lanka’s Ministry of Power and Energy and China’s Sinopec Corporation have signed an agreement to build an oil refinery in Hambantota with an investment of USD 3

The visit is the first one to China by President Dissanayake since his taking office, and is of great significance to the development of China-Sri Lanka relations. Dissanayake and his new government,

Sri Lankan President Anura Kumara Dissanayake is on a four-day visit to China from 14 to 17 January 2025. During his visit, he met with Chinese President Xi Jinping and other high-ranking officials to discuss bilateral ties and cooperation.

Dissanayake incidentally was a critic of the Hambantota port deal for its long-term lease while he was in the opposition.It was seen as a balancing act as last year India and Sri Lanka inked a deal to jointly develop 85 Word War II-era oil storage tanks at the strategic Trincomalee port in the eastern region of the country.

Sri Lanka has secured its biggest-ever foreign investment after signing a deal with Chinese state-run oil giant Sinopec, officials said on Thursday.

China has offered to invest USD 3.7 billion in Sri Lanka, stated to be the biggest-ever foreign investment in the island nation, to build a state-of-the-art oil refinery as the two countries signed a new plan to upgrade BRI cooperation during Sri Lankan President Anura Kumara Dissanayake's state visit here.

Sri Lanka's President Anura Kumara Dissanayake concluded a four-day state visit to China on Friday. The visit shows that the new government remains committed to strengthening its partnership with China under the Belt and Road Initiative (BRI) framework,

In a significant boost to economic ties, Sri Lanka has secured a landmark $3.7 billion foreign direct investment from China's Sinopec, marking a pivotal moment in the island nation's recovery efforts.