Sri Lanka will soon re-acquire Trincomalee Oil Tank Farm - Gammanpila

Minister Udaya Gammanpila says that the discussion held with the Indian High Commissioner to Sri Lanka Gopal Baglay regarding the Trincomalee Oil Tank Farm concluded successfully. 

He stated that the discussion concluded with the decision to re-acquire the Trincomalee Oil Tank Farm and manage it under a company, of which the Ceylon Petroleum Corporation (CPC) will be the majority shareholder.

He stated that Lanka IOC will be the other shareholder of the company. 

Speaking during an event held at the CPC’s Kolonnawa storage terminal, the Minister of Energy announced that the discussion on re-acquiring the oil tank farm ended last Sunday.

“We were able to discuss and resolve all the issues with the Indian High Commissioner,” he said.

He commending the High Commissioner for being flexible and putting aside the conditions set in the agreement signed in 2017 agreeing to the conditions put forward by the incumbent government, following discussions with CPC’s upper management and trade unions. 

Minister Gammanpila stated that Sri Lanka will soon re-acquire the Trincomalee Oil Tank Complex which the country had lost since 2003.

He added that with the oil tanks will be developed with help from Lanka IOC and transformed into a place that brings in foreign exchange to the country.