Trincomalee Oil Tank Farm to Boost Sri Lanka’s Economy

The Ministry of Energy announced that the Trincomalee Oil Tank Farm will play a key role in generating significant foreign exchange for Sri Lanka.

This initiative aligns with the government’s energy policy and strategic development plans.

The project is a joint effort between Lanka IOC and the Ceylon Petroleum Corporation (CPC), managed under Trinco Petroleum Terminal Ltd., a partnership involving both Indian and Sri Lankan stakeholders.

Despite being built during the British colonial era, the oil tanks are in excellent condition. The project includes minor refurbishments, installation of pipelines, and the development of facilities for ship storage and supply. The Ministry of Transport, Highways, Ports, and Civil Aviation will collaborate to integrate this initiative with ongoing port development efforts.

During a recent inspection at the Trincomalee Port Oil Tank premises, Minister of Energy, Engineer Kumara Jayakody, emphasized the strategic importance of the project. Deputy Minister of Ports and Civil Aviation, Janitha Ruwan Kodithuwakku, highlighted plans to maximize the economic potential of Trincomalee Port, recognized as the fifth-largest natural harbor in the world.

He noted that the initiative is part of Sri Lanka’s vision to become a maritime hub, which includes entering the global oil trade. The final port development strategy will be completed in the coming months as part of a national economic plan.

The inspection covered the Trincomalee Port, CPC facilities, Trinco Petroleum Terminal Ltd., and Lanka IOC operations.

Several high-ranking officials joined the tour, including CPC Chairman D.J.A.S. De S. Rajakaruna, CPC Managing Director Dr. Mayura Neththikumarage, and Sri Lanka Ports Authority Chairman Admiral (Retd.) Sirimevan Sarathchandra Ranasinghe.