Dec 31, 2021

14 oil tanks leased to LIOC for another 50 years

The Minister of Energy - Udaya Gammanpila has said that 14 oil tanks currently managed by LIOC at the Trincomalee oil tank farm will be leased out to the LIOC for another 50 years.

Meanwhile, 24 oil tanks will be maintained under the CPC, Minister Gammanpila stated.

Furthermore, 61 tanks will be jointly managed by the newly established Trinco Petroleum Terminals Ltd., of which the CPC and LIOC will have 51% and 49% stakes respectively.