Sri Lanka to ink three new lease agreements to develop Trincomalee oil tank farm with India
The Hindu
Basil is expected to visit India again to attend the ‘Virbant Gujarat’ summit from January 10 to 12.
Sri Lanka on Friday announced its decision to sign three lease agreements on developing the strategic Trincomalee oil tank farm with India, after the Rajapaksa administration negotiated a “suitable” deal for 16 months.
The announcement, signalling forward movement in a long-dragging project, is significant for New Delhi following a year of diplomatic strain beginning early 2021, when Sri Lanka unilaterally cancelled a tripartite agreement to develop a .
The Trincomalee oil tank farm project, pertains to some 100 oil storage tanks — built by the British during World War II -- in Sri Lanka’s eastern Trincomalee district. It has dominated bilateral talks for decades, from the time of the Indo-Lanka Accord of 1987, but has seen little progress.
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