Ten tanks to be ready for development in February

24 January 2023 08:13 am Views - {{hitsCtrl.values.hits}} 5 Bookmark

CHATURANGA PRADEEP SAMARAWICKRAMA Follow

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Asserting that the work on the Trincomalee oil tank farm is well in progress, Lanka Indian Oil Company (LIOC) said ten tanks would be ready for development after the area is cleared of woods very soon.

The strategic project is part of India’s plan to develop Trincomalee jointly with Sri Lanka as a petroleum hub.

Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) signed an agreement with Lanka IOC, a subsidiary of state-owned Indian Oil Corporation on January 6, 2022 to jointly develop the Trincomalee oil tank farm. The agreement provides for the establishment of Trinco Petroleum Terminals Ltd, a joint venture between the two companies to manage 61 of the 99 tanks. The CPC holds a 51 percent controlling stake in the company, and LIOC 49 percent.

LIOC Managing Director Manoj Gupta told Daily Mirror the tank farm area is cleared of woods by the State Timber Corporation commendably. He said seven tanks had already been cleared and the clearing of woods around three more tanks would be completed by the middle of next month.

Mr. Gupta said tenders would be called for consultancy services to design the laying of the pipeline from the jetty to the tank farm.

Commenting on the expansion of the LIOC network of filling stations in Sri Lanka, he said his company operates 213 at the moment and 60 more will be added to it. He said 10-15 stations will be commissioned by the end of this month. (Kelum Bandara)

Comments - 5

Jaffna Boys Tuesday, 24 January 2023 09:55 AM

This is situated in Trincomale, it was left by the British, so it belongs to Sri Lanka. This is called a strategic asset and India has right to own it fully or partially.

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Mahila Tuesday, 24 January 2023 06:02 PM

What a splendid question??? For the past 65 years, (since 1956) Sri Lanka owned it as gifted by British colonialists, but no one did anything to enable use of these (so called Strategic tanks! – Your words!!! Such inept governance for 65 years by useless, who could not even realise the importance of the assets, which they had no inherent idea to use and save money and 'bolster 'the SL economy!!! Now when the government of India have used the joint venture IOC,to resuscitate the tanks for use as storage terminals, they are asking why is India there!!?? Dog in the MANGER attitude!!!?? Typical Sri Lankan!?

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Mahila Tuesday, 24 January 2023 06:02 PM

What a splendid question??? For the past 65 years, (since 1956) Sri Lanka owned it as gifted by British colonialists, but no one did anything to enable use of these (so called Strategic tanks! – Your words!!! Such inept governance for 65 years by useless, who could not even realise the importance of the assets, which they had no inherent idea to use and save money and 'bolster 'the SL economy!!! Now when the government of India have used the joint venture IOC,to resuscitate the tanks for use as storage terminals, they are asking why is India there!!?? Dog in the MANGER attitude!!!?? Typical Sri Lankan!?

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samy Tuesday, 24 January 2023 04:25 PM

hey Jaffna Boy- SL has owned it for 75 years and do not know what to do with it or have the money to do anything with it. Be thankful, atleast Indians know how to use it and have the money to repair it

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dickie bird Tuesday, 24 January 2023 10:06 PM

Its now a business venture. If GOSL could not go it alone all these years, why not now in partnership make it useful instead of idle.. In SL nobody had the dingles.

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