India proposed on Monday to build an ambitious $ 6 billion oil refinery project near Yangon, to firmly establish its credentials as a serious and viable development partner of Myanmar.
This was a key point of an unusual two-day joint visit by Indian Army Chief Manoj Mukund Naravane and Foreign Secretary Harsh Vardhan Shringla to Myanmar.
India seeks to ensure that the neighboring country does not establish itself firmly in the orbit of China. “This project would be a beneficial arrangement for both countries…. As of now, Indian Oil Corp. (IOC) has shown interest in the project, “said a person familiar with the matter, on condition of anonymity.
Other highlights of the visit include the presentation of 3,000 vials of Remdesivir, seen as a viable option for treating COVID-19 patients, to State Councilor Aung San Suu Kyi in a “symbolic move of India’s commitment to help Myanmar in their fight against the pandemic, “he said. The promise to import 150,000 tons of urad Myanmar until March 31, 2021 and a grant of 2 million dollars for the construction of a border haat (village) bridge in Byanyu / Sarsichauk in Chin state to provide a boost to increased economic connectivity between Mizoram and Myanmar were some of the other key results of the visit.
India’s moves come amid a renewed effort by Beijing to woo Myanmar, which has been criticized by some countries for its treatment of the Rohingya, seen as residents of Myanmar’s Rakhine state, who fled to Bangladesh after a repression of Myanmar troops.
In January, Chinese President Xi Jinping visited Myanmar and the two countries signed a series of pacts, including a concession and a shareholders’ agreement for the Kyaukphyu Special Economic Zone off the Bay of Bengal. With a deep-water port, it is the terminus of the 1,700-kilometer China-Myanmar Economic Corridor, an important link in the Beijing Belt and Road Initiative, the other end of which is in China’s Yunnan province. Other deals covered oil and gas pipelines and road and rail projects from southern China through Myanmar to Kyaukphyu.
“This is a very bold move,” former Foreign Secretary Kanwal Sibal said of India’s plans to establish the refinery. “It is a very strategic project aimed at reducing Myanmar’s dependence on China’s infrastructure construction. India cannot counter China simply by saying it has a ‘Go East’ policy. The investment is substantial to capture the attention of Myanmar, “Sibal said. Inquiries to spokesmen for the IOC and the Ministry of Oil and Natural Gas late Monday night did not get any response as of press time.
Utpal Bhaskar contributed to this story
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