Ceylon Petroleum Corporation (CPC) and Ceylon Petroleum Storage Terminals Ltd. (CPSTL) Chairman Saliya Wickramasuriya revealed that within the next few weeks, the Ministry of Power and Energy would call for EOIs internationally for the development of the 61 oil tanks of the Trincomalee Oil Tank Farm held by TPTL.

The TPTL is a joint venture between the Lanka Indian Oil Company (LIOC) and the CPC.Commenting on the possible commercial applications for the oil tank farm, he stated that it could be used for commercial storage, where it could be rented out while a part could be used as a strategic reserve to store cargo.

The company has been incorporated; we have completed the Articles of Association and we are in the process of obtaining approval from the Board of Investment (BOI). While both parties contributed an initial investment to cover the incorporation costs and the initial site survey, no further investment has been carried out so far, he added.