The UAE Ministry of Investment, the Indian Ministry of Petroleum and Natural Gas, and Sri Lanka’s Ministry of Energy have entered into a trilateral Memorandum of Understanding (MoU) to develop Trincomalee, Sri Lanka, as a key energy centre to improve the country’s energy security.
The MoU was signed by Mohamed Hassan Alsuwaidi, UAE Minister of Investment, Vikram Misri, Indian Foreign Secretary, and KTM Udayanga Hemapala, Secretary of Sri Lanka’s Ministry of Energy.
The UAE, India, and Sri Lanka have designated their official agencies for the refinery project, which are Abu Dhabi Ports Group PJSC (AD Ports), Indian Oil Corporation Limited (IOCL), and Ceylon Petroleum Corporation (CPC). These agencies will form a joint venture company to oversee project execution. The agreement also includes the construction of a bi-directional petroleum pipeline connecting India and Sri Lanka, which will improve regional logistics and fuel security.
Mohamed Hassan Alsuwaidi, UAE Minister of Investment, stated that this MoU demonstrates the UAE’s commitment to strategic regional alliances that promote diplomacy, long-term economic resilience, and sustainable infrastructure development. Together with our partners in India and Sri Lanka, we want to harness Trincomalee’s full potential as a significant energy and logistical gateway.
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