The Trincomalee Oil Tank Farm is to be re-acquired by the Government, Minister of Energy Udaya Gammanpila said today (17).
The Cabinet Co-spokesman said discussions held on Sunday (14) with the Indian High Commissioner in Colombo to reacquire the Oil Tank Farm were successful.
Minister Gammanpila further said the Indian High Commissioner had agreed to forego the agreement signed in 2017.
The Indian official had accepted the new terms and conditions submitted by the Government in this regard, he said.
Minister Gammanpila said the new conditions were formed after discussions with relevant parties, including trade unions.
All issues pertaining to the Oil Tank Farm were resolved during the discussions with the Indian official, he said.
Addressing an event in Kollonawa today, he said the Trincomalee Oil Tank Farm will be developed by a company while the Government would own the higher stake.
Meanwhile, a spokesperson at the Indian High Commission in Colombo said that both India and Sri Lanka have identified energy partnerships as one of the priority dimensions of their cooperation.
The spokesperson further said that India is committed to working together with Sri Lanka for the island’s energy security.
The spokesman went on to say that in this context, consultations and discussions have been undertaken to promote mutually beneficial cooperation for the development and operation of the Upper Oil Tank Farms in Trincomalee.
He added that India looks forward to continuing its productive engagement with Sri Lanka in this regard. (Colombo Gazette)