Mar 13, 2015 (LBO) – Lanka IOC and Ceylon Petroleum Corporation have agreed to develop the upper oil tank farm of the China Bay installation in the Trincomalee, addressing a gathering at the presidential secretariat Indian Prime Minister Narendra Modi said.
The modality of the project which will be carried upon on mutually agreed terms is yet to be constituted.
“India is ready to help Trincomalee become a regional petroleum hub,”
Indian government is also looking at the early commencement of work on the ground in the Sampur Coal Power Project, Indian PM said.
“This landmark project would meet Sri Lanka’s energy needs,”
“The ocean economy is the new frontier that holds enormous promise for both of us; it is the priority for our two countries,”
“Our decision to set a joint task force on ocean economy is a significant step especially because of our proximity.” Indian Prime Minister stressed.