Sri Lanka has held discussions on the proposal by the Indian Government through the Indian Oil Company (IOC) for a multi-product oil pipeline connecting Nagapattnam (India), Trincomalee Tank Farm, and Colombo.
Taking to ‘X’, Minister of Power and Energy Kanchana Wijesekera said that he met IOC officials yesterday on the sidelines of the India Energy week.
He further said that technical studies, demand market analysis, financial analysis and business models will be conducted to decide on the mechanism related to the project.
The minister added that discussions were also held about the investments and expansion of projects under the joint venture in Trincomalee tank farm, Ceylon Petroleum Storage Terminals Limited (CPSTL), and Lanka Indian Oil Company (LIOC) retail operations. (NewsWire)