कोशिश गोल्ड - मुक्त
IOCL may revive WW-II era oil storage farm in Sri Lanka
Mint Mumbai
|June 21, 2023
Lanka IOC may take 49% stake, Ceylon Petroleum 51%, to get Trincomalee farm running again
Fuel storage tanks from World War II may come to life again in Sri Lanka’s Trincomalee, with state-run Indian Oil Corp. Ltd (IOCL) planning to redevelop them at a cost of around ₹1,500 crore.
Two people aware of the development said IOCL is in talks with Sri Lankan authorities, adding the investment amount is yet to be finalized.
“Talks are still underway. Things will take concrete shape in the next two to three months. Options are being explored on further energy partnership with Sri Lanka," one of the two people cited above said on the condition of anonymity.
Under the current plan, Lanka IOC, a subsidiary of IOCL will take a 49% stake and Ceylon Petroleum Corporation 51%.
The second person said India is looking at several ways to help Sri Lanka meet its energy requirements, and that a whole range of projects is being considered.
The talks come at a time when India’s southern neighbour is pulling back from a severe economic and energy crisis.
यह कहानी Mint Mumbai के June 21, 2023 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
क्या आप पहले से ही ग्राहक हैं? साइन इन करें
Mint Mumbai से और कहानियाँ
Mint Mumbai
In a sea of tech talent, companies can’t find the workers they want
There has rarely, if ever, been so much tech talent available in the job market. Yet many tech companies say good help is hard to find.
4 mins
October 03, 2025
Mint Mumbai
Hexaware sued for $500 million in US over patent breach
American IT services firm Natsoft Corp. has sued Hexaware Technologies Ltd for breach of contract and patent infringement, seeking $500 million in damages from the latter, in one of the biggest patent cases against an Indian IT firm.
3 mins
October 03, 2025
Mint Mumbai
GST boom ahead?
India's latest goods and services tax (GST) revenue figures paint an optimistic picture.
1 min
October 03, 2025
Mint Mumbai
H-1B clampdown may extend to US college faculty
Rising anti-immigration sentiment in the US is no longer confined to moves to limit foreign technology workers from entering the country.
2 mins
October 03, 2025
Mint Mumbai
FPIs pull record ₹2 tn on valuations, weak rupee
Heavy outflows could cap market gains; Nifty returns just 0.3% in dollar terms
2 mins
October 03, 2025
Mint Mumbai
Instant grocery delivery is going luxe to stand out
Blinkit joins the race as it expands to ozone-washed fruits and artisanal breads to cheese
2 mins
October 03, 2025
Mint Mumbai
Next-gen reforms to tackle land, women's participation
The initiatives seek to tackle some of the intractable challenges in India's development story
2 mins
October 03, 2025
Mint Mumbai
Why India's best students face a tough job market
Students entering this year's placement season are stepping into a rough job market.
2 mins
October 03, 2025
Mint Mumbai
Govt scans e-commerce cos’ COD charges, refund delays
The government will examine if cash-on-delivery charges imposed by online retailers are aimed at nudging consumers to pay upfront, and why refunds are delayed or blocked if prepaid orders are cancelled, said two people aware of the matter.
2 mins
October 03, 2025
Mint Mumbai
WHY INDIA IS SEEKING A NEW SUNRISE IN JAPAN
India missed out on Japanese investment in its initial post-reform years. That could change now
7 mins
October 03, 2025
Translate
Change font size