Part of: Prelims and GS-II – International Relations
Context Marking a major milestone in a strategic project in Sri Lanka, Indian Oil Corporation subsidiary Lanka IOC, Ceylon Petroleum Corporation and the Government of Sri Lanka have signed three lease agreements on jointly developing the Trincomalee oil tank farm in eastern Sri Lanka.
Key takeaways
The move firms up India’s role in the project discussed since the time of the Indo-Lanka Accord of 1987.
Trincomalee is home to 3.7 lakh Muslim, Tamil and Sinhala people
In Sri Lanka’s post-war years, it has emerged a favoured destination for surfers from around the world, gradually transforming with plush resorts and restaurants dotting its coast.
At the same time, with its fine natural harbour and crucial location, Trincomalee remains in spotlight as a potential transit point for international trade routes, particularly drawing India which has known strategic interests there.
