India offers Myanmar a $6bn oil refinery

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    India offers Myanmar a $6bn oil refinery

    NEW DELHI: To encounter China`s intensification of energy cooperation with Myanmar now India started working to ramp up its own presence in the energy sector in neighborhood for booming energy industry .As part of it India offers Myanmar a $6bn oil refinery.

    Foreign secretary Harsh Vardhan Shringla & army chief MM Naravane join visit two 2 countries discussing about  the possibility of building a petroleum refinery in Myanmar with an investment of $ 6 billion. India offers Myanmar a $6bn oil refinery.

    India have proposed to build refinery in the Thanlyin region near Yangon as per official sources shared. As per reliable sources Indian Oil Corporation Limited have shown keen interest in the project saying this will be a win-win for India & Myanmar.

    Currently China have almost 70 percent of their foreign investments in the energy sector in Myanmar. Myanmar is India’s eastern neighbor who bestride on India’s East Act and Neighborhood First policies.

    Myanmar is not having many refineries and mostly imports oil for its domestic fuel consumption so this act will strengthen Myanmar capabilities in energy sector.

    During joint visit Mr. Shringla and Naravane have also called State Counsellor Daw Aung San Suu Kyi and Commander in Chief of Defense Services Senior General Min Aung Hlaing.

    Both party have also discussed about maintenance of security and stability at their border as shared by government in their statement. Both party will reiterated their mutual commitment and will not allow their respective territories to be used for any harmful activities to each other. Government of India also appreciated Myanmar’s decision of handing over 22 Indian insurgents to India.

    Mr. Shringla and Naravane have also given 3000 vials of Remdesivir to the State Counsellor of Myanmar. India gifts 3000 vials of Remdesivir to friendly neighbor Myanmar and India expressed that it was symbolic of our commitment to assist Myanmar in the fight against the pandemic.

    During this joint visit they also looked that India is underscoring its commitment to work with both Myanmar and Bangladesh for early stabilization of the situation in the strife-torn Rakhine state.

    Myanmar and India have upgraded a Rakhine State Development Program (RSDP) agreement which is aimed to address challenges faced in agricultural productivity by using farm machinery and equipment more efficiently and effectively. Which is expected to be helpful in improving socio-economic status of people from Rakhine as per officials.

    Foreign minister of Bangladesh Mr. AK Momen had recently warned if we fail to resolve humanitarian problem including repatriation of the Rohingyas may lead to radicalism and terrorism in area which may hamper peace and stability in the region.

    India again reiterated their position in front of Myanmar that we supports safe sustainable and speedy repatriation of displaced persons from Bangladesh to Rakhine based on understanding between Bangladesh and Myanmar.

    Further India clarifies that we fully understands urgency in this situation and we are committed to have humanitarian efforts in both Myanmar and Bangladesh to allow an early return of the displaced persons.

    India has already extended its hand by providing 5 tranches of covid-19 relief package to Bangladesh and willing to do more as per official source. Furthermore India have been extending socio-economic development assistance health education and agriculture projects in Rakhine through a grant-in-aid of $ 5 million per year.

    During duo visit India have also announced a grant of $ 2 million for the construction of the border haat Bridge at Byanyu & Sarsi Chauk in Chin State. This move will improve economical connectivity between Mizoram and Myanmar.

    Stay tuned for more updates as of now this is all about India offers Myanmar a $6bn oil refinery.

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