Lanka, India to jointly run Trincomalee oil facility: Lanka Minister
PTI India and Sri Lanka will jointly operate the oil storage facility at the strategic eastern port town of Trincomalee, Petroleum Minister Chandima Weerakkody said today. At least 73 of the 99 storage tanks in Trincomalee is to be managed under a new equity arrangement between the two countries, Weerakkody said. To operate the 73 tanks "we will have the joint venture running", Weerakkody said. Sri Lanka will have the ownership of 10 more tanks while another 14 will be handed to India on a long lease, he said. The petroleum minister had presented a Cabinet paper last year for the joint venture and he today said negotiations were still underway on the matter. He said ...
India, Lanka to sign ETCA by mid-2016
Indian delegation is due to visit the country early next month to finalise the draft agreement and the government will go ahead signing it, said Sri Lankan in his address to Parliament The Dollar Business Bureau The Sri Lankan PM was said to have expressed more willingness over the pact terming it as beneficial to Sri Lankans In a step-ahead move enhancing bilateral ties, India and Sri Lanka seem to be all set to sign the Economic and Technical Cooperation Agreement (ETCA) bymid-2016, extending cooperation in economy and technical cooperation in various fields. An official announcement in this regard was reportedly made by the Sri Lankan Prime Minister Ranil Wickremesinghe on Tuesday in his address to the Sri Lankan Parliament. Indian delegation is due ...
