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Business plan between CPC and LIOC for Trinco oil tanks
View(s):The Energy Ministry is to finalise a business plan between the Ceylon Petroleum Corporation and the Lanka Indian Oil Company (LIOC) for Trincomalee oil tanks, an official said.
To finalise the plans, the Ministry has requested the Survey General Department to carry out a survey of the 677 acre land in which the 99 oil tanks are spread over.
Following a request from Ministry Secretary K.D.R. Olga, the survey is now underway.
A senior CPC official said talks with the LIOC were ongoing with the objective of reducing the losses of the corporation, increasing its storage capacity and venturing on a joint business plan with the LIOC.
He said the business plan also included the provision of bunkering facilities.
The official said the ongoing survey was required to finalise the business plan as the last survey on the outer perimeter was done about 18 years ago.
The Sunday Times learns that part of the business plan is to set up a joint venture between the CPC and the LIOC for a development of a section of the tanks while at least 14 tanks will be given to the LIOC.
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