China adds Brunei to new silk road as Western banks leave

BANDAR SERI BEGAWAN: On a tiny island off Brunei’s northern tip on the South China Sea, thousands of Chinese workers are building a refinery and petrochemical complex, along with a bridge connecting it to the capital, Bandar Seri Begawan.

When completed, the first phase of the US$3.4bil complex on Muara Besar island, run by China’s Hengyi Group, will be Brunei’s largest–ever foreign investment project, and comes at a time when the oil-dependent country needs it the most.