China ‘not narrow minded’ to oppose Indian investments in Lanka: Official


Team Udayavani, Mar 21, 2019, 11:23 AM IST

Beijing: China on Thursday said it is “not narrow minded” to oppose the Indian investments in Sri Lanka, as it reacted guardedly to reports of USD 3.85 billion joint venture between India’s Accord Group and Oman’s oil ministry to build a refinery in the island nation.

Sri Lanka’s Deputy Minister of Development strategies and International Trade Nalin Bandara was quoted as saying by the local media that the Oman Oil Ministry and a Singapore investment vehicle owned by India’s Accord Group have agreed to construct an oil refinery in the country, the biggest foreign direct investment in Lanka.

China has acquired Hambantota port for 99-year lease as a debt swap.

Asked for his reaction to the oil refinery in Lanka and whether China is concerned about the Indian investments there, Foreign Ministry spokesman Geng Shuang told the media here that Beijing has an “open attitude” regarding India’s investments in the island nation.

“I don’t have relevant information as of now. But I want to say China and Sri Lanka have cooperation in many areas that yielded concrete outcomes. As far as the port (Hambantota) you mentioned, (it is) another example of our fruitful cooperation,” Geng said.

“We have an open attitude towards Indian investment in Sri Lanka. While we make our contribution to the development of Sri Lanka, China is not as narrow minded as you thought,” he said.

Chinese investments over the years in Sri Lanka amounted to over USD eight billion adding pressure to Colombo’s external debt burden. China’s acquisition of Hambantota port as a debt swap has raised concerns about Beijing’s Belt and Road Initiative (BRI), which US has cautioned as debt trap specially for smaller countries.

The Belt and Road Initiative is a multi-billion-dollar initiative launched by Chinese President Xi Jinping when he came to power in 2013. It aims to link Southeast Asia, Central Asia, the Gulf region, Africa and Europe with a network of land and sea route.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Kinnigoli: Truck carrying red stone collides with Auto-Rickshaw; driver injured

UP govt to install 150,000 toilets for Maha Kumbh, set up paying guest facilities

Kavoor Police arrest two notorious cattle thieves

Udupi: Unidentified body found near Bailkere’s Vidhyodaya School

Sexual harassment case cannot be closed on basis of compromise between parties: SC

MLC Ivan D’Souza defends CM Siddaramaiah’s Lokayukta appearance, criticizes BJP’s ‘Drama’ claims

Ranji Trophy: Shreyas Iyer’s majestic 233 puts Mumbai in complete command against Odisha

Related Articles More

Indian consulate in Canada cancels consular camps due over security issues

Hindu temple in Brampton suspends priest for spreading ‘violent rhetoric’

President Xi congratulates Trump; says China, US should find ‘right way’ to manage differences

Harris, Trump agree on importance of unifying country as they speak over phone

Under extraordinary circumstances Harris stepped up, led historic campaign: Biden

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Felling of trees: What is being done to restore Delhi Ridge? SC asks DDA

Kinnigoli: Truck carrying red stone collides with Auto-Rickshaw; driver injured

UP govt to install 150,000 toilets for Maha Kumbh, set up paying guest facilities

Kavoor Police arrest two notorious cattle thieves

Udupi: Unidentified body found near Bailkere’s Vidhyodaya School

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.