The Ceylon Petroleum Corporation (CPC) and the Lanka Indian Oil Company (LIOC) will jointly administer and develop the Trincomalee Oil Tank Farm, Petroleum Resources Development Minister Arujna Ranatuga told Parliament yesterday.
He said this in response to a question asked by Chief Opposition Whip Anura Kumara Dissanayake who asked whether the CPC and LIOC will form a joint venture company for the purpose of administering and developing these oil tanks.
The minister said 16 tanks were leased out to the LIOC in 2002 while a fresh agreement would be signed for a new lease with it.
He said the remaining 69 tanks would be developed and maintained as a joint venture by the CPC and the LIOC.
“I have heard some opposition MPs accusing me of selling the tanks in Trincomalee and I categorically state that they will not be sold to anyone with the land where the tank farm is located being under the CPC," the minister said.