India, Sri Lanka likely to sign port development deal
April 23, 2017 02:25 am
India and Sri Lanka may next week give final shape to a deal for jointly developing the Trincomalee Port in the north-eastern region of the island nation.
Prime Minister Ranil Wickremesinghe will travel to New Delhi on Tuesday on a five-day visit. His meeting with Indian Prime Minister Narendra Modi is likely to focus on Sri Lanka’s offer to India for developing the Trincomalee Port.
Modi and Wickremesinghe are also expected to discuss Sri Lanka’s proposal for India and Japan to jointly develop a Liquefied Natural Gas terminal in Trincomalee, sources told DH.
Both the deals are likely to be signed during Modi’s visit to the island nation next month to attend the celebrations marking the International Day of Vesak or Buddha Purnima.
Modi and Wickremesinghe will also discuss ways to speed up negotiations on the much-awaited Economic and Technical Cooperation Agreement.
Colombo has put forward the proposal to India for developing the Trincomalee Port to strike a balance between India and China to allay New Delhi’s concern over Beijing’s bid to expand its footprints and build strategic assets in and around Sri Lanka.
Addressing reporters in Kandy yesterday, Wickremesinghe said he was looking forward to strengthen economic cooperation with India.
He said the development of eastern port district of Trincomalee will be discussed during the visit.
“We have plans for an Indian LNG plant in Trincomalee.
That could also be a joint venture with Japan,” the Prime Minister said.
India and Sri Lanka will jointly operate the oil storage facility at the strategic eastern port town of Trincomalee.
At least 73 of the 99 storage tanks in Trincomalee is to be managed under a new equity arrangement between the two countries, Lankan Petroleum Minister Chandima Weerakkody had said earlier.
-Agencies
