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UAE, India, Sri Lanka sign tripartite MoU to develop Trincomalee as regional energy hub

Gulf News · last updated

The agreement sets a framework for collaboration on a range of infrastructure and energy projects in Trincomalee, including the refurbishment and development of the Trincomalee Tank Farm, bunker fuel supply initiatives, and the possible development of a new refinery project. As part of the implementation of the refinery project, the UAE, India and Sri Lanka have designated their authorised agencies, respectively Abu Dhabi Ports Group PJSC (AD Ports), Indian Oil Corporation Limited (IOCL) and Ceylon Petroleum Corporation (CPC). These agencies will establish a Joint Venture Company to oversee project execution. The agreement also includes the construction of a bi-directional petroleum pipeline between India and Sri Lanka, strengthening regional logistics and fuel security.

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