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Home NEWS Sri Lanka to ‘re-acquire’ Trincomalee oil tanks

Sri Lanka to ‘re-acquire’ Trincomalee oil tanks

Sri Lanka will “re-acquire” the World War-era oil tanks within the jap metropolis of Trincomalee that had been leased out to an Indian Oil Corporation (IOC) subsidiary in 2003, Sri Lanka’s Minister of Energy Udaya Gammanpila has stated.

“I am proud to announce that the oil tanks the use of which had been denied to us since 2003 will be soon ours,” Mr. Gammanpila was quoted as saying by information companies on Wednesday.

The Minister was talking at an occasion held in a northern suburb of Colombo, when he referred to a latest dialogue with the Indian High Commissioner to Sri Lanka. The Indian aspect has agreed to “leave aside” the phrases negotiated by the previous Maithripala Sirisena – Ranil Wickremesinghe administration in 2017, Mr. Gammanpila stated.

In 2003, Sri Lanka leased out the oil tank farm to India, for the upgradation and commissioning of 99 tanks in it in a 35 year-period. The undertaking didn’t proceed as was envisaged. Over a decade later, the 2 international locations renewed discussions throughout PM Narendra Modi’s go to to Sri Lanka in 2015 and obtained nearer to a “roadmap” in 2017, that included a three way partnership to execute the undertaking, however couldn’t finalise the deal amid protests from oil staff unions.

Minister Gammanpila indicated that discussions had recommenced, on new phrases set by Sri Lanka that included retrieving the tanks that stay below lease, however largely unused. The harbour in Trincomalee is taken into account one of many best deep-sea, pure harbours, in a strategically coveted spot, on Sri Lanka’s north-eastern coast.

A spokesman of the Indian High Commission informed the media that India and Sri Lanka have recognized vitality partnership as one of many “priority dimensions” of their cooperation, and that India was “committed to working together with Sri Lanka” for the island’s vitality safety. “In this context, consultation and discussions have been undertaken to promote mutually beneficial cooperation for development and operation of the Upper Oil Tank Farms in Trincomalee. We look forward to continuing our productive engagement with Sri Lanka in this regard,” he stated.

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