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Saturday, January 29, 2022

Trincomalee oil tank project will boost Lanka ties: Government

🔴 The Sri Lankan government said after reviewing the three existing agreements regarding the strategic Trincomalee oil tank complex, the two sides have reached an agreement to implement a joint development project.

By: Express News Service | New Delhi |
January 7, 2022 4:00:17 am
Trincomalee oil tank farm, sri lanka india oil deal, IOC, Indian Oil Corporation Ltd, Sri Lanka India deal, oil tank farm deal, Sri Lanka economic crisis, Explained, Indian express, Indian express newsMinistry of External Affairs spokesperson Arindam Bagchi. (Video screengrab/File)

India on Thursday said the Trincomalee oil tank farms project in Sri Lanka will augment bilateral energy security, days after the island nation cleared the long-pending deal with New Delhi.

“We have seen reports that the Sri Lankan Cabinet has approved the development of the Trincomalee tank farms. Energy security is an important area of our bilateral cooperation with Sri Lanka,” MEA  spokesperson Arindam Bagchi said.

“We are in consultation with the Lankan government for the modernisation of the Trincomalee tank farms. This will allow for the storage of fuel and will augment bilateral energy security,” Bagchi added.

The Sri Lankan government said after reviewing the three existing agreements regarding the strategic Trincomalee oil tank complex, the two sides have reached an agreement to implement a joint development project.

Sri Lanka had detained a total of 68 fishermen and 12 of them have already been released. Bagchi said both sides are in consultation for early holding of a meeting of the joint working group on fisheries.

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