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  3. www.themorning.lk › articles › 5dEJFLKdCelTZlAGpyf0SL evaluates offers for Trinco Oil Tank Farm | The Morning

    1 day ago · The Trincomalee Oil Tank Complex Development Project was approved by the Cabinet of Ministers on 4 January 2022. Accordingly, it was decided that 24 of the 99 tanks would be given to the CPC, 14 tanks to LIOC, and 61 tanks to TPTL – the latter on a 50-year lease – with the CPC having the majority stake in the subsidiary.

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  5. indianexpress.com › article › explainedDeveloping Trincomalee oil tank farm: What the deal means for ...

    Jan 3, 2022 · Last week, Sri Lanka’s Energy Minister Udaya Gammanpila announced that the Indian Oil Subsidiary Lanka IOC would be given 49% stake in the joint development of the Trincomalee Oil Tank farm, with Ceylon Petroleum Corporation keeping 51%.

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  6. www.livemint.com › news › indiaSri Lanka, India ink deal to jointly redevelop strategic Oil ...

    Jan 6, 2022 · Sri Lanka on Thursday signed an agreement with India to jointly redevelop the strategic World War II-era oil tank farm in the island nation's eastern port district of Trincomalee, in a new...

  7. www.lowyinstitute.org › the-interpreter › india-sIndia’s takeover of the Trincomalee Oil Tank Farm will help ...

    India has recently moved to take effective control over the giant oil tank farm in Trincomalee, Sri Lanka. This marks a key step in integrating Sri Lanka into India’s national energy system, with important strategic consequences for Sri Lanka and potentially also for region.

  8. www.thehindu.com › news › internationalIndia inks deal with Sri Lanka to develop Trincomalee oil ...

    Jan 7, 2022 · Trinco Petroleum Terminal Pvt. Ltd, set up by the CPC for the project, would develop the remaining 61 tanks in the Word War II-era facility, in a joint venture where 51% stakes will be held by...

  9. www.ft.lk › news › Govt-to-sign-Trincomalee-oil-tankGovt. to sign Trincomalee oil tank farm deal with India next ...

    Dec 29, 2021 · In a month’s time, Sri Lanka will ink the long-dragging deal with India to jointly develop the Trincomalee oil tank farms – a coveted project that has remained controversial for decades.