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Dec 10, 2017

Treasury’s CPC Terminals stake to China? Featured

The one-third of shares of CPC Terminals Ltd., presently owned by the Treasury, are to be sold to China, reports say.

 

The Treasury owns 100 filling stations, one-third of the oil storage at Muthurajawela and one-third of the regional offices.

Minister Sarath Amunugama has submitted the proposal to the economic affairs committee to sell them off to China.

In 2005 too, a similar attempt to sell the Treasury shares to Bharat Petroleum of India was abandoned following opposition by striking CPC workers.

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