After a significant period of major works in Sri Lanka with uncertainties for many years, Lanka IOC, Ceylon Petroleum Corporation and the Sri Lankan government on Thursday signed our lease to join forces in establishing the Trincomalee tank farm in eastern Sri Lanka.
The move, which ultimately highlights India’s role in the conflict, which has been the subject of controversy since the 1987 Indo-Lanka accord, comes after government approval this week.
Opposition to Rajapaksa’s decision includes India in a process that has been discussed by many governments in various fields but has yet to be finalized.
Lanka IOC, a subsidiary of the Indian Oil Corporation, will now operate 14 tanks in service for 50 years, while CPC will operate 24 tanks.
Trinco Petroleum Terminals Pvt. Ltd, established by CPC for this project, will build joint ventures for an additional 61 tanks at the WWII site, 51% owned by CPC and 49% owned by Sri Lanka’s Minister of Energy, Lanka IOC. previously mentioned.