Trincomalee Oil Tanks to be Leased for Fuel Hub Development

Trincomalee Petroleum Terminal Limited (TPTL) is inviting international proposals to lease out 29 currently abandoned oil tanks for commercial development. These tanks are part of the 61 owned by TPTL, a joint venture between the Ceylon Petroleum Corporation (CPC) and Lanka IOC. The primary objective is to establish a fuel re-export hub in Trincomalee, according to CPC Managing Director Mayura Neththikumarage. Preparatory work for the long-term lease is underway, alongside ongoing renovations of two other CPC-owned tanks in the area.