Prime Minister has stated that when the 2003 agreement with India was inked, the oil tanks in Trincomalee were idling as the Ceylon Petroleum Corporation was not in a position to make use of them. Had the 2003 UNP Government continued, all 99 oil tanks in Trincomalee would have been fully operational today.
“If we were to develop the Trinco oil tank farm, it would be sufficient to store enough buffer stocks for Sri Lanka and part of India,”Premier stressed.
He made this observation responding to the accusations over leasing out oil tanks to the Indian Oil Company. He said: There was a change of Governments and the agreement was postponed. In 2015, we had discussions with India to resume the project as the CPC had no financial capacity to embark on it alone as it was burdened with a huge debt.“