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Indian Delegation Discourse About Energy Cooperation with Sri Lanka

Sri Lanka is totally reliant on imported fuel, which cost the nation near to enormous figure of USD 4 billion last year.

March 27, 2023. By EI News Network

Sri Lankan President Ranil Wickremesinghe stated about the progression in the cooperatively recognized priority areas for bilateral collaboration in the crucial energy sector.

Chairman of Indian Oil Corporation Ltd Shrikant Madhav Vaidya gifted 500 indoor solar cooking systems to Sri Lanka. The cooking system is named as 'Surya Nutan', patented product has been made and designed locally by IOCL.

Sri Lanka and India execute a joint venture deposits fuel in the World War II time storage tanks in Trincomalee.

President Wickremesinghe shared his ideas on the previous application of these initiatives when the delegation preceded by Pankaj Jain, Secretary of Ministry of Petroleum Natural Gas.

The high-level Indian delegation on the petroleum sector is anticipated to have substantial discussion with their Lankan correlative firms for further collaboration.

Sri Lanka is totally reliant on imported fuel, which cost the nation near to enormous figure of USD 4 billion last year.

IMF sanctioned a USD 3 billion relieve programme to aid Sri Lanka control its economic crisis and gather financial support from other developed nations and international agencies.

This step is anticipated to drive the major stability in the Sri Lanka's economy.

Through this dialogue session between the Indian delegation and Sri Lankan delegation, both nations will knock together the long term deals in Sri Lanka’s energy sector to establish stable connection without intervention.

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Policies & Regulations

Sri Lankan Government

Indian Oil Corporation

India

Bilateral Collaboration

500 indoor solar cooking system

Long Term Partnerships