India and Sri Lanka will set up a Joint Working Group (JWG) to discuss the development of a port, petroleum and other industries in the Lankan city of Trincomalee, the external affairs ministry said today.
India and Sri Lanka will set up a Joint Working Group (JWG) to discuss the development of a port, petroleum and other industries in the Lankan city of Trincomalee, the external affairs ministry said today.
The setting up of the group is mandated under the Cooperation in Economic Projects agreement signed yesterday after talks between Prime Minister Narendra Modi and his Sri Lankan counterpart Ranil Wickremesinghe here.
Noting that Lanka IOC has had the rights to develop the Tank Farm since 2003 but currently only 'Lower Tank Farm' is developed, MEA Spokesperson Gopal Baglay said India has proposed to Sri Lanka to develop 'Upper Tank Farm' as joint venture.
"Upper Tank Farm in Trincomalee will be jointly developed by India and Sri Lanka... This needs fresh investment. Sri Lanka also had special requirements. There will be discussions between the two sides on various aspects and details.
"A port, petroleum refinery and other industries in Trincomalee, for which a JWG will be set up to further discuss and flesh out details," Baglay added.
Asserting that the government's approach of Sabka Sath Sabka Vikas"was also aimed at its neighbours, he said the pact is aimed at achieving greater economic, investment and development cooperation in a progressive manner, through joint ventures that will ensure the wellbeing of the people of the two countries.
The main areas and the scope of cooperation will include a regasified Liquefied Natural Gas (LNG) fired 500 MW capacity LNG Power Plant; an LNG Terminal /Floating Storage Regasification Unit (FSRU) in Colombo/Kerawalapitiya; a 50 MW solar power plant in Sampur.
Other focus areas under the agreement would be identifying industrial zones; important road segments Mannar- Jaffna, Mannar-Trincomalee and Dambulla-Trincomale Expressway under Indian investments; the railway sector development in Sri Lanka including new projects for track upgrade and purchase of rolling stock.
Asked about the suggestions made by the Afghan Envoy here yesterday on an India-US-Afghanistan trilateral strategic partnership, Baglay said there is convergence among the three countries in their objective to promote peace and stability and defeat terrorism imposed on Afghanistan from outside.
Trilateral consultation and potential for trilateral cooperation among these three countries for capacity building and development in Afghanistan reflect this convergence, he added.
He further said India is committed to stand with Afghanistan in protecting that country's sovereignty, unity, territorial integrity, peace and stability, as also economic development.
On a query about the outcome of the recently-held Bangladesh China India Myanmar (BCIM) joint study group meet in Kolkata and China's insistence to elevate it to ministerial level, Baglay said India attaches great significance to it.
"A very senior veteran diplomat heads that Joint Study Group which just met in Kolkata. Our Additional Secretary was there to assist him. The Group is to synthesise various chapters of the country reports," he said noting, BCIM was established in 2013.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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