India and Sri Lanka will jointly develop Trincomalee Oil Tank Farms as a part of the incomplete India-Sri Lanka Agreement of 1987.
Trincomalee Oil Tank Farm will serve as a refueling station adjacent to the port of Trincomalee. The 1987 India-Sri Lanka agreement stated that the renovation of the tank farm in the northeastern province of Trincomalee would be done jointly by the two countries.
The project will counter China’s influence in the Indian Ocean region.
The project also addresses three contentious issues of strategic interest, people of Indian origin in Sri Lanka and the rights of Tamil minorities in Sri Lanka.
Source – The Hindu