CPC-LIOC TO DE­VELOP TRINCO OIL TANK FARM

None of the tanks will be sold to any­one

Daily Mirror (Sri Lanka) - - FRONT PAGE - BY YOHAN PERERA

The Cey­lon Pe­tro­leum Cor­po­ra­tion (CPC) and the Lanka In­dian Oil Com­pany (LIOC) will jointly ad­min­is­ter and de­velop the Trin­co­ma­lee Oil Tank Farm, Pe­tro­leum Re­sources Devel­op­ment Min­is­ter Aru­jna Ranatunga told Par­lia­ment yes­ter­day.

He said this in re­sponse to a ques­tion asked by Chief Op­po­si­tion Whip Anura Ku­mara Dis­sanayake who asked whether the CPC and LIOC will form a joint ven­ture com­pany for the pur­pose of ad­min­is­ter­ing and de­vel­op­ing these oil tanks.

The min­is­ter said 16 tanks were leased out to the LIOC in 2002 while a fresh agree­ment would be signed for a new lease with it.

He said the re­main­ing 69 tanks would be de­vel­oped and main­tained as a joint ven­ture by the CPC and the LIOC.

“I have heard some op­po­si­tion MPS ac­cus­ing me of sell­ing the tanks in Trin­co­ma­lee and I cat­e­gor­i­cally state that they will not be sold to any­one with the land where the tank farm is lo­cated be­ing un­der the CPC,” the min­is­ter said.

Source: News re­ports

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