Sri Lanka secured the largest foreign direct investment to date on Thursday (16), during President Anura Kumara Dissanayake's visit to China.

• This landmark deal was formalized with the signing of an agreement between Sri Lanka’s Ministry of Energy and Sinopec, a leading Chinese international petroleum corporation.
• The $3.7 billion investment will fund the construction of a state-of-the-art oil refinery with a capacity of 200,000 barrels in the Hambantota region.
• A substantial portion of the refinery’s output is planned for export, which will further enhance the nation’s foreign exchange earnings.
• This major investment from China is expected to bolster Sri Lanka’s economic growth while uplifting the livelihoods of low-income communities in the Hambantota area.