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.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you