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Trincomalee oil tank farm
January 5 , 2022
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- Recently, Sri Lanka announced that the Indian Oil Subsidiary Lanka IOC would be given a 49% stake in the joint development of the Trincomalee Oil Tank farm, with Ceylon Petroleum Corporation keeping 51%.
- If it goes according to plan, India and Sri Lanka would have finally achieved the implementation of an agreement contained in an exchange of letters between then Prime Minister Rajiv Gandhi and Sri Lankan President J R Jayawardene as part of the annexure to the India-Sri Lanka Accord of July 29, 1987.
- Trincomalee is the nearest port to Chennai.
Indo-Lanka Accord
- It is popularly referred to as the Rajiv-Jayewardene Accord.
- It was signed in 1987 on the pretext of the Civil War in Sri Lanka (between Tamils and the Sinhala community).
- The accord sought to balance India’s strategic interests, the interest of people of Indian origin in Sri Lanka, and Tamil minority rights in Sri Lanka.
- The accord saw the placement of the Indian Peace Keeping Force (IPKF) in Sri Lanka to resolve the Sri Lankan Civil War.
- The accord also resulted in the enactment of the thirteenth Amendment to the Constitution of Sri Lanka and the Provincial Councils Act of 1987.
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