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Trinco oil tanks to be leased out to India

2017-04-07 07:31:42
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After deliberations involving President Maithripala Sirisena and Indian High Commissioner Taranjith Singh Sandhu, the government has decided to lease out the Trincomalee Oil Tank Farm for development jointly with India, a Minister said yesterday.

In the lower farm, there are 14 tanks currently being used by Lanka Indian Oil Company (LIOC). However, there are 84 tanks in the Upper Tank Farm that are not being used at the moment.

Petroleum and Petroleum Gas Minister Chandima Weerakkody told the Daily Mirror that ten of these tanks would be retained by the Ceylon Petroleum Corporation (CPC), and the rest would be developed jointly with LIOC under a joint venture.

He said the government decided on this after a series of meetings involving President Sirisena, Prime Minister Ranil Wickremesinghe , the Indian High Commissioner and him.

The initial move was to hand over all the tanks to the Indian authorities. However, the Minister said President insisted that at least ten tanks should be vested with the Sri Lankan side. (Kelum Bandara)


  Comments - 14

  • SL Friday, 7 April 2017 07:46

    Tell us the shares and expected return ? Currently there is huge amount of money pumping out of the country due to IOC local sales contributing to the depreciation of LKR value

    Reply : 0       17

    Ravi Friday, 7 April 2017 08:01

    Must be a token of appreciation for voting against SL twice at the UNHRC.

    Reply : 1       28

    Ranjan Friday, 7 April 2017 08:49

    This government consists of bunch of traitors who are selling our vital assets to our potential enemy India. People of this country will not accept this.

    Reply : 7       33

    BuffaloaCitizen Friday, 7 April 2017 12:13

    What can you expect when every tom dick and harry has robbed the country. Hambantota sold to China for 99 years bcos we cannot pay them back the loans we took.

    Reply : 14       5

    Fazal Mashood Friday, 7 April 2017 09:27

    Whole is greater than the sum! Why don't you sell the whole country to someone rather than selling in pieces?

    Reply : 2       18

    Gayan Friday, 7 April 2017 09:36

    The benefits of 'regime change'.

    Reply : 8       22

    JAN Friday, 7 April 2017 09:47

    Before oil tanks given to IOC with oil but calculated with out oil Wheres oil money Millions goThis time also leading oil tanks with out oil or with oil via DM Android App

    Reply : 0       4

    Kevin Friday, 7 April 2017 09:57

    If I see this correct, heading says its "leased" If so as the younger generation we can accept it but not "sold".This is one of the most important un utilized assets we have. Should see whether they actually sold

    Reply : 1       8

    ceylon Friday, 7 April 2017 10:12

    good.that what to do.make money from the facilities. via DM Android App

    Reply : 7       1

    Shelly. Friday, 7 April 2017 10:30

    A Govt. with able heads is being elected to make decisions where ever necessary and go ahead. This is a good and timely action. A similer decision is expected soon on Trinco harbour and business centres around same and power generation yard. via DM Android App

    Reply : 12       1

    Nihal Amarasekera Friday, 7 April 2017 10:33

    Do we know much about these 'Tanks' to comment other than Indian interests, payments etc.

    Reply : 1       2

    Nostradamus Friday, 7 April 2017 11:36

    84 tanks were not used.....so its a good decision to lease them out. via DM Android App

    Reply : 11       1

    Dayan Friday, 7 April 2017 11:44

    What is wrong with adding money to country for leasing out 'Unused oil tanks' and I cant understand why we retain 10 oil tanks to CPC unless we use it...........

    Reply : 10       2

    Martin Milton Saturday, 8 April 2017 09:09

    This is yet another of this present GOSL's ill thought out totally Nation destabilising, anti national actions and Sri Lanka will no doubt reel under Indian 'yoke' for years if not generations to come unless this is reversed ASAP. Where is the President in all this? Is he as usual going to say to the public' I did not know' OR 'I was not informed' in his usual weak as ever style? MM

    Reply : 0       0

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