99 oil tanks leased to Indian Oil Corporation will be re-acquired by Sri Lanka

Sri Lanka will re-acquire 99 World War II-era oil storage tanks leased to Indian Oil Corporation in the eastern port district of Trincomalee, energy minister Udaya Gammanpila announced.

This is the second deal with India to be scrapped by Sri Lanka this year. Gammanpila said talks with the Indian high commissioner in Colombo on this issue concluded last week.

“I am happy to state that the Indian high commissioner was very flexible at the talks. He ignored the conditions mentioned in the agreement signed in 2017 in order to be helpful to us,” Gammanpila said, referring to his discussions with high commissioner Gopal Baglay.

“He was flexible to agree to all our conditions. A majority of ships which sail around Trincomalee are from India. So we need India’s cooperation to win their market,” he added.

For more information visit iocl.com

22nd February 2021