The IOCL site says, “Lanka IOC intends to develop the tankage (capacity of tanks) on need basis."ĭuring his visit to Sri Lanka in 2015, Prime Minister Narendra Modi said the project would help turn Trincomalee into a “regional petroleum hub". Currently, only 15 of them are operational. The tank farm, formerly owned and operated by Ceylon Petroleum Corp., has 99 tanks, each with a capacity of 12,000 kl. These wartime tanks were built by the British, and primarily utilized for refuelling flights and ships of the Royal Air Force and the Royal Navy. The project, however, met with resistance from nationalist political parties including the Janatha Vimukthi Perumuna, which portrayed it as an expansionist move by India.ĭespite sporadic efforts to jointly develop the farm since the signing of the Indo-Sri Lanka Peace Accord in 1987, it never made headway. In January 2022, Sri Lanka and India agreed to jointly redevelop the oil tank farm in the island nation’s eastern district of Trincomalee. Queries sent to IOCL and the petroleum ministry remained unanswered till press time. The talks come at a time when India’s southern neighbour is pulling back from a severe economic and energy crisis. The second person said India is looking at several ways to help Sri Lanka meet its energy requirements, and that a whole range of projects is being considered. Under the current plan, Lanka IOC, a subsidiary of IOCL will take a 49% stake and Ceylon Petroleum Corporation 51%.
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