The Ceylon Petroleum Corporation has launched a call for proposals to lease 29 abandoned oil storage tanks in Trincomalee as part of plans to develop the port into a regional fuel re-export hub.
The Ceylon Petroleum Corporation (CPC) has decided to invite proposals from investors interested in leasing 29 currently unused oil tanks located in Trincomalee on a long-term basis. According to Mayura Neththikumarage, Managing Director of the CPC, these tanks form part of a larger facility operated by Trincomalee Petroleum Terminal Limited, which manages a total of 61 oil tanks in the area.
The initiative aims to establish Trincomalee as a fuel re-export hub, potentially positioning the strategic port as a regional center for petroleum storage and distribution. Beyond the leasing proposal, the CPC has already begun renovation work on two additional oil tanks that it directly owns in Trincomalee, signaling broader efforts to revitalize the petroleum infrastructure at the location.
The move represents an attempt to generate revenue and maximize the utility of existing infrastructure while developing Sri Lanka's energy sector capabilities. The specific terms and timeline for the lease proposals have not been detailed in current announcements.
