Trinco Oil Tanks: Cabinet Paper to be submitted shortly

CEYLON TODAY | Published: 2:00 AM Feb 19 2021
News Trinco Oil Tanks: Cabinet Paper to be submitted shortly

The Cabinet Paper on the agreement reached between shareholders regarding the Trincomalee Oil Tanks will be submitted to Cabinet once discussions are concluded, Energy Minister Udaya Gammanpila said yesterday (18).

He said the Cabinet Paper would be submitted after making public the points in the agreement and then holding discussions with religious leaders, civil organisations, trade unions and the Maha Sangha to get an overall idea about the agreement. 

Speaking to the Media at the Energy Ministry, Gammanpila said as a result of discussions with the Government of India, they reached a joint venture agreement between the Ceylon Petroleum Corporation (CPC) and Lanka Indian Oil Corporation (LIOC). 

“At present LIOC uses only 15 tanks of the ninety nine tanks that were leased. Although every government tries to develop these tanks and turn them into a source of income, no Government has been able to do that so far,” he said. 

Speaking further, he said even though ownership was not handed over to LIOC , the former government nor the subsequent Government took action to sign a detailed lease agreement.  As a result, there is no clear content to show as to how safe these tanks are and who will be responsible in case of loss. 

“There is no agreement on anything. As a result, many of these tanks are not only covered by forest but also looted by thieves and these tanks are on the verge of destruction,” he concluded.

 (TR)


CEYLON TODAY | Published: 2:00 AM Feb 19 2021

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