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By Ajith Siriwardana
The government will continue to utilise Trinco Petroleum Terminal (Pvt) Ltd which is a joint venture company established under the Ministry of Power and Energy to develop the Trincomalee Oil Tank Farm as a source of earning foreign exchange, the Ministry of Energy said.
Trinco Petroleum Terminal (Pvt) Ltd was established under the Ministry of Power and Energy as a joint venture of the Ceylon Petroleum Corporation (CPC) and Lanka IOC PLC (LIOC) during the previous regime.
Energy Minister Kumara Jayakodi said ,during a visit to the Oil Tank Farm, that steps will be taken to renovate the oil tanks, construct a pipe line to supply fuel to ships and develop it as a storage facility for port development together with the Ministry of Transport, Highways, Ports & Civil Aviation.
Deputy Minister of Ports and Civil Aviation Ruwan Janitha Kodithuwakku, who joined the visit, said the government will present the national plan to enter the oil market and execute port development plan in line with the oil farm development project within the next few months.