March 2018
11:15 AM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
Lanka only leasing out oil tanks to India: Wickremesinghe
Colombo, May 6 (PTI) Sri Lanka will only lease out oil tanks to India under the proposed deal to jointly operate a strategic oil facility in the eastern port district of Trincomalee, Prime Minister Ranil Wickremesinghe has said.

Addressing a gathering in the central town of Welimada yesterday, the Prime Minister said the joint working group of the two countries will formulate investment plans for the integrated development of Trincomalee.

"Japan may also join in Trincomalee development," Wickremesinghe said.

Seeking to dispel concerns that his government is selling state assets to India, China, US and Japan, he said, "We are going to cater to the oil demand in India by leasing out the tanks."

Workers of Sri Lanka's staterun petroleum company last month held a strike to protest the proposed deal with India to jointly operate the strategic oil facility.

They, however, ended strike after an assurance from Prime Minister Ranil Wickremesinghe that during his visit to India that week he would not sign any agreement on the World War IIera oil tanks.

At least 73 of the 99 storage tanks in Trincomalee is to be managed under a new equity arrangement between India and Lanka.

In 2002, the Indian Oil Company was given 14 of the 99 tanks to operate.

Sri Lanka and India signed an MoU on economic co operation in the presence of Prime Minister Narendra Modi and his Lankan counterpart Wickremesinghe in New Delhi last month.

Former president Mahinda Rajapaksa has opposed the deal and accused the Lankan government of selling state assets.

Rajapaksa's supporter Udaya Gammanpila told parliament yesterday that a "future patriotic government" would nationalise all assets given to India by the current government.

Wimal Weerawansa, another key Rajapaksa's backer, called for raising of black flags during Prime Minister Narendra Modi's visit to the country next week.

Modi is scheduled to visit Sri Lanka on May 12 to take part in the the UN 'Vesak Day' which commemorates the birth, enlightenment, and death of Buddha.

The opposition claims that Modi will sign the oil tank deal during his visit despite President Maithripala Sirisena rubbishing it as misinformation.

Modi would only attend the UN 'Vesak Day' celebrations and no bilateral agreements will be signed during his visit to Lanka, President Sirisena had said.

Havells appoints Shashi Arora as CEO of Lloyd
Markets consolidate gains, Sensex reclaims 33k-mark
SAIC’s MG Motor India to invest Rs5,000 crore in next six years
Audi to hike car prices by up to Rs 9 lakh from April
RBI sets rupee reference rate at 64.9366 against US dollar
Indians choose travel over shopping, food: Survey
'Panama Papers' law firm shuts down operations
Delhi, Bangalore, Chennai among cheapest cities globally: EIU
Sensex extends losses, down 66 pts; Nifty below 10,400
SBI closes 41.2L SB accounts for not keeping minimum balance
RBI scraps bank LoUs in the aftermath of PNB fraud
Huawei, Savex Technologies partner for enterprise biz in India
Rupee opens 9 paise higher against US dollar
Sensex cautious on weak global cues; TCS cracks 5%
Rupee rises 23 paise against dollar in opening trade
Sensex rallies 301 pts ahead of IIP, inflation data
India braces for Donald Trump's reciprocal tax, may fight it in WTO
Sensex ends marginally lower on late sell-off
Rupee rebounds 4 paise in opening trade
Tata Steel could pip JSW to emerge as highest bidder for Bhushan Steel
Govt poser to unrecognised schools over RTE norms
 (Thiruvananthapuram, Mar 21, 2018): The State government Wednesday sought to know why action  
Govt decides to write off loans of endosulfan victims
Thousands witness Thirunakkara Pakal Pooram / Video
Sexist remarks by professor trigger protests
Austrian diplomat summoned from Israel over 'Nazi' shirt
 Vienna, Mar 21 (AFP) Austria's foreign ministry has summoned an attache from its embassy in Israel a
Sri Lanka Opposition submits no-confidence motion against PM
Suicide bomber kills 26 in Kabul attack: officials
North Korea's Kim congratulates Putin on election victory
Tripura govt to launch e-hospitals, GPS-fitted ambulances
 (Agartala, Mar 22, 2018): The Tripura government has decided to launch 21 e-hospitals and 50
Indian Technomac director held in Rs 6000 cr fraud case
Want to meet CM for a govt job: Mosul victim's wife
Amid ouster speculation, Guj Cong chief defers his US visit
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.