New Delhi [India], January 6 (ANI): India is in consultation with the Sri Lankan government for the modernisation of the Trincomalee oil tank farm as energy security is an important area of New Delhi's bilateral cooperation, said the Ministry of External Affairs on Thursday.

"We have seen reports that the Sri Lankan Cabinet has approved the development of the Trincomalee oil tank farm as you know energy security is an important area of our bilateral cooperation with Sri Lanka," said MEA spokesperson Arindam Bagchi on Thursday during a press briefing.

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"We are in consultation with the government of Sri Lanka for the modernisation of the Trincomalee oil tank farm," he added, emphasising that "this will allow for the storage of fuel and will augment bilateral energy security".

With regard to Lankan Finance Minister Basil Rajapaksa's last month's visit to India, Bagchi said that the Minister briefed the Indian side about the economic situation of the country and his government's approach in addressing these challenges.

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"India has always stood by with Lankan people. Sri Lanka is an important part of our neighbourhood first policy," Bagchi said.

"During the visit, discussions took place on deepening cooperation in the areas of food and health security, energy security, the balance of payment issues and Indian investment in Sri Lanka among others," the spokesperson added. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)