Arjuna Ranatunga spells out the future of the Trinco oil tank farm

Colombo (News1st): Minister of Petroleum Resources Development Arjuna Ranatunga announced the Government's policy with regard to the Trincomalee Oil Tank Farm while addressing Parliament today (October 12). The minister stated that the Cabinet of Ministers discussed the matter in August this year and reached a number of decisions. Thereby the Cabinet had decided to allow Lanka IOC PLC to continue to operate 15 oil tanks that they currently operate in Trincomalee. 16 oil tanks are to be fully developed and used exclusively by the CPC. In addition, the Cabinet had agreed to form a new company to develop 85 oil tanks in the upper section of the oil tank farm, upon completion, the company in question would operate the said tanks. The ownership of the land on which the oil tank is located will continue to remain with the Government. Minister Ranatunga revealed in Parliament today (Oct 12) that the original documentation with regard to the operation of the oil tank farm was drawn up in 2002 but the tax documentation was not completed. He added that a mudslinging campaign took place in the media to claim this was done in secret. Minister Ranatunga said such false propaganda will only lead to the destruction of this country.