Destinations > China Invested over One billions in Trinidad and Tobago
China Invested over One billions in Trinidad and Tobago
Trinidad and Tobago is the first Caribbean nation to sign on to China's One Belt One Road (OBOR) otherwise known as the Belt and Road Initiative. OBOR was launches by His Excellency Xi Jinping, President of the People's Republic of China, in 2013 and is focused on creating and improving new links, trading routes and business opportunities with China.
In the energy sector, in 2011, China Investment Corporation (the PRC sovereign wealth fund), invested $850 million to acquire a 10 percent interest in Atlantic LNG.
Other investment includes a $500 million Chinese-built drydock and $102 million industrial park in La Brea, significant Chinese positions in the telecommunications sector, gifts of hundreds of police motorcycles, purchases of Chinese buses, and rumors of the PRC acquiring the defunct Petrotrin refinery in Trinidad and Tobago.