Indian tycoon Gautam Adani's wind project in crisis-hit Sri Lanka raises eyebrows
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Sri Lanka is suffering its worst economic crisis in decades, with people facing grave food, fuel and power shortages.
PHOTO: AFP
BANGALORE - New energy investments in Sri Lanka by one of India's richest tycoons might bring some much-needed foreign exchange for the economic crisis-hit island, but they have sparked allegations of favouritism and diplomatic blackmail to dilute China's influence in the country.
On March 13, the Colombo-based Sunday Times newspaper reported that the Sri Lankan electricity board had signed a memorandum of understanding (MOU) with Adani Green Energy. The company is part of Adani Group, which was founded by Mr Gautam Adani, currently India's second-richest person. The MOU was not officially announced by the government.