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UAE India and Sri Lanka sign agreement for Trincomalee energy hub development
The UAE, India, and Sri Lanka have signed a Memorandum of Understanding to transform Trincomalee into a regional energy hub, refurbishing the historic oil tank farm and exploring new refinery construction. A joint venture will oversee projects, including a bi-directional petroleum pipeline to enhance fuel logistics. This initiative aims to strengthen energy security and economic ties amid growing regional competition, particularly from China.
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