NEW COMPANY TO DEVELOP TRINCOMALEE OIL TANKS

A new company is to be set up to develop the Trincomalee oil tank complex.
The company is to be set up under the name ‘Trinco Terminal Limited’ and will be established under the Sri Lanka Petroleum Corporation.
Chairman of the Ceylon Petroleum Corporation Sumith Abeysinghe stated that the relevant agreements for the development of these tanks in Trincomalee will be signed with the Ceylon IOC and several other parties in India within a month.
Accordingly, at present the Ceylon IOC In addition to the 14 tanks under the company’s control, the remaining 85 tanks are to be developed.