Sri Lanka is set to hold discussions on energy, power, and port projects with India during an upcoming visit by President Ranil Wickremesinghe to New Delhi.
The move comes as India seeks to revive stalled initiatives with its crisis-stricken neighbor.
Last year, India’s support was instrumental for Sri Lanka as it faced a severe financial crisis and struggled to finance essential imports, including fuel and medicine.
During the visit, Sri Lanka will focus on grid connectivity, port development, and renewable energy projects, particularly in the northern part of the country.
Foreign Minister Ali Sabry highlighted the importance of developing the Trincomalee Harbor, a strategically significant natural harbor on Sri Lanka’s northeast shore, as an energy hub and major port.
The aim is to review progress and explore ways to expedite these projects.
Both China and India have been competing for influence in Sri Lanka, given its strategic location in the Indian Ocean.
Sabry revealed that China Harbour Corp and Sinopec are interested in investing in Sri Lanka. Sinopec has already been shortlisted for a $4 billion refinery near the Hambantota port in southern Sri Lanka.
Sri Lanka is also in talks with India and China to renegotiate its debt after defaulting in May last year.
President Wickremesinghe’s two-day visit to India on July 21 is expected to pave the way for further cooperation between the two nations in energy, port development, and economic revitalization.
The discussions signify a significant step forward in strengthening the bilateral ties between India and Sri Lanka and facilitating Sri Lanka’s economic recovery.
