Financial

Sri Lanka finalising talks to reacquire oil tanks leased to India: Minister


Since 2003, the Lanka IOC, the Sri Lankan subsidiary of India‘s oil major Indian Oil Corporation (IOC), has the leasing rights to 99 tanks at the facility for a period of 35 years for an annual payment of USD 100,000. Energy Minister Gammanpila had earlier this year made his intentions clear to reacquire the tanks.