Sri Lanka and India will together initially develop 30 of the World War II vintage fuel storage tanks in Trincomalee, the Cabinet of Ministers decided. Eight tanks, in terms of a Government decision, have been handed over to a joint venture formed by the Ceylon Petroleum Corporation (CPC) and the Lanka-Indian Oil Plc. Ministers have [...]

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Joint Indo-Lanka venture to develop Trinco oil tanks

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Sri Lanka and India will together initially develop 30 of the World War II vintage fuel storage tanks in Trincomalee, the Cabinet of Ministers decided.

Eight tanks, in terms of a Government decision, have been handed over to a joint venture formed by the Ceylon Petroleum Corporation (CPC) and the Lanka-Indian Oil Plc.

Ministers have empowered Prime Minister Ranil Wickremesinghe to decide on a suitable mechanism for the development of the first 30 tanks. This is in consultation with Minister of Petroleum Resources Chandima Weerakkody, and Minister of Development Strategies and International Trade Malik Samarawickema.

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