India, Sri Lanka to discuss port, petroleum projects

IN TRINCOMALEE

A DAY after India and Sri Lanka signed a pact on cooperation on economic projects, New Delhi said that the two countries will set up a Joint Working Group (JWG) to discuss the development of a port, petroleum and other industries in the Lankan city of Trincomalee.

The Ministry of External affairs said on Thursday that the setting up of the group is mandated under the Cooperation in Economic Projects agreement signed, after talks between Prime Minister Narendra Modi and the visiting Sri Lankan PM Ranil Wickremesinghe on Wednesday.

Observing that Lanka IOC has had the rights to develop the Tank Farm since 2003 but currently only ‘Lower Tank Farm’ is developed, MEA’S official spokesperson Gopal Baglay said India has proposed to Sri Lanka to develop ‘Upper Tank Farm’ as joint venture.

“Upper Tank Farm in Trincomalee will be jointly developed by India and Sri Lanka... This needs fresh investment. Sri Lanka also had special requirements. There will be discussions between the two sides on various aspects and details. A port, petroleum refinery and other industries in Trincomalee, for which a JWG will be set up to further discuss and flesh out details,” Baglay said.