The agreement with the new companies set up to develop the Trincomalee oil tank complex as a joint venture was signed a short while ago.
The agreement was signed between the Secretary to the Treasury, the Commissioner General of Lands, the Ceylon Petroleum Corporation, Ceylon Indian Oil and Trinco Petroleum Terminals.
Energy Minister Udaya Gammanpila stated that the legal proceedings in this regard were completed this afternoon (06).
Accordingly, it is planned to develop 61 tanks out of the total 99 tanks in the Trincomalee oil tank complex under a new company called Trinco Petroleum Terminal Pvt. Ltd.
The Attorney General has approved the draft agreement on the new company and the Minister of Energy stated that the agreement could be signed at any time.
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