The Sri Lankan government has hardened its stance on a lease agreement with the Indian Oil Corporation.
The Indian company is trying to set up a bitumen plant in the northeast, however Sri Lanka has not signed the 10-year old agreement.
An MoU between the IOC and Ceylon Petroleum Corp was agreed in 2003 and would grant a long-term lease to the IOC to operate storage tanks in Trincomalee for 35 years for an annual fee of USD 100,000.
The PTI reported sources as saying said that the government is having reservations about leasing out ‘state assets’.
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