Sri Lanka to hold talks with India, UAE to build new energy hub in May

Sri Lanka will start work next month on plans to develop an energy hub with India and the United Arab Emirates, the energy minister said on Friday, as the nation looks to leverage its strategic location to cement a recovery from a financial crisis.

The trio signed a deal to create the hub during a visit this month by India’s Prime Minister Narendra Modi, the first global leader to visit the island since President Anura Kumara Dissanayake took office last September. 

Dissanayake won an election with pledges of stability after the worst financial crisis in decades threeyears ago triggered runaway inflation, sent the local rupee into free-fall and forced the country to default on $25 billion of debt..…| read more on Business Standard