India and Sri Lanka have signed Memorandum of Understanding on Cooperation in Economic Projects. The MoU was signed yesterday after discussion between Prime Minister Narendra Modi and his Sri Lankan counterpart Ranil Wickramasinghe in New Delhi.? In a reply to a question MEA spokesperson said, the MoU is an agenda o?r? a roadmap for the future and identifies projects and areas of bilateral economic and investment cooperation.<br/><br/>He said, the main areas and the scope of cooperation are 500 Megawatt LNG Power Plant, an LNG Terminal/Floating Storage Regasification Unit in Colombo and a 50 Megawatt Solar Power Plant in Sampur. He said, upper tank farm in Trincomalee will be jointly developed by India and Sri Lanka? with fresh investment.<br/><br/>A Joint ?Working ?G?roup will be set up? to further discuss regarding a port, petroleum refinery and other industries in Trincomalee. The other areas of co-operation are Industrial Zones and Special Economic Zones in identified locations, important road segments Mannar-Jaffna, Mannar-Trincomalee and Dambulla-Trincomale Expressway, Railway sector development, container terminal in Colombo port as a Joint Venture and development of agriculture and livestock in island nation.