The proposal presented by the Indian government, facilitated by the Indian Oil Corporation (IOC) Ltd., for the construction of a multimodal petroleum pipeline linking India's Nagapattinam with Sri Lanka's Trincomalee Oil Tank Farm and Colombo, has entered the discussion phase.
Minister of Power & Energy, Kanchana Wijesekera, announced via X (formerly Twitter) that discussions commenced on Wednesday, February 7th, coinciding with the India Energy Week. The meeting included representatives from IndianOil Company, as well as chairpersons from Lanka IOC, Ceylon Petroleum Corporation (CPC), and the Petroleum Development Authority of Sri Lanka (PDASL).
Wijesekera highlighted plans for comprehensive technical studies, demand market analysis, financial assessments, and exploration of business models to determine the operational framework of the proposed pipeline.
Besides, the meeting addressed investments and expansion strategies for joint ventures involving the Trincomalee Oil Tank Farm, Ceylon Petroleum Storage Terminals Limited (CPSTL), and Lanka IOC retail operations, signifying a broader discussion on enhancing bilateral cooperation in the petroleum sector between India and Sri Lanka.
