Politics
China's Port in Sri Lanka Could Get Boost From Proposed Refinery
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A proposed oil refinery in Sri Lanka could boost a barely used Chinese-operated port that has piled on debt for the country and fueled criticism of President Xi Jinping’s signature Belt and Road infrastructure-building initiative.
The $3.9 billion refinery project will be located near the southern Sri Lankan port of Hambantota, which was built with funding from Beijing and eventually handed over on a 99-year lease to a state-owned Chinese company in a debt-to-equity swap.