China offers to invest $3.7 bn in oil refinery in Sri Lanka as Dissanayake pitches for more Chinese investments

China has pledged a significant investment of USD 3.7 billion to construct a state-of-the-art oil refinery in Sri Lanka, marking the largest foreign investment in the country. The announcement came during Sri Lankan President Anura Kumara Dissanayake's visit to China, where he secured 15 agreements, and expanded cooperation under the Belt and Road Initiative.