Important developments on Trinco oil tank farm deal next month - Indian Reports

COLOMBO (News 1st); India may offer financial assistance to help Sri Lanka tide over its present economic crisis in return for its proposed Trincomalee oil tank project, reported Indian media on Thursday (30).

Indian media has cited official sources as saying that Sri Lanka is moving ahead on finalizing plans for jointly developing the oil tank farm at Trincomalee.

The coming month may see important developments on the Trincomalee oil tank farm deal, said the reports.

Reports also showed that India is finalizing an assistance package that will include a credit line for food and medicines to be purchased from India and a second credit line to cover oil imports.