News > Sri Lanka signs deal to lease oil tanks to Indian Oil amid financial crisis
Sri Lanka signs deal to lease oil tanks to Indian Oil amid financial crisis
LiveMint | 07/01/2022 10:25 AM | Click to read full article
Sri Lanka on Thursday signed a deal with the local unit of Indian Oil Corp, Lanka IOC, to lease 75 oil tanks, as the island moved closer to securing a $500 million fuel credit line from India.
The signing of the deal comes ahead of Chinese Foreign Minister Wang Yi's visit to Colombo this weekend, with China also vying for clout in Sri Lanka.