CPC Chairman Sumith Wijesinghe told The Morning yesterday (18) that the storage tank farm would be developed at the East Trincomalee Harbour, together with the SLPA and the LIOC, as part of the proposed South Asian Petroleum Hub. Palitha added that this venture would see the construction of 24 new tanks. The Trincomalee Oil Tank Farm, now consisting of 99 tanks, and divided into a Lower Tank Farm and an Upper Tank Farm, was leased to the LIOC in 2003 for 30 years, which would expire in 2033. The LIOC initially refurbished 15 tanks in the Lower Tank Farm. Accordingly, India agreed to refurbish and use the 84 giant oil tanks in the Upper Tank Farm as a “joint venture”.

Source: The Nation February 18, 2021 23:01 UTC