Sri Lankan President Anura Kumara Dissanayake with Chinese President Xi Jinping

Sri Lanka's foreign minister said on Wednesday that the island nation has signed an agreement with China to fast-track Sinopec's proposed $3.7 billion refinery in Hambantota.

China's Sinopec and Sri Lanka will work to resolve land, tax and water issues within a month, Foreign Minister Vijitha Herath told reporters.