Trinco Oil Tank deal has more value: MP Chandima Weerakkody

COLOMBO (News 1st); The deal with regard to the Trincomalee Oil Tanks could have been implemented differently, in a more beneficial manner, says SLPP MP Chandima Weerakkody.

Speaking at the occasion of commemorating the 123rd birth anniversary of the former Prime Minister S.W.R.D. Bandaranaike, the MP stated that the former Prime Minister Bandaranaike took the historic decision and purchased the relevant tanks for 255,000 - 256,000 pounds, and they should be improved and developed rather than to selling them.

Speaking further, the MP stated that the Government has been unable to operate the Oil Tank farms as an investment mechanism for decades.

According to calculations, the MP stated that 3 acres of port was given for US $ 750 million, and the current 49% owned by the LIOC out of the total 833 acres could value up to US $ 20 billion.

In that sense, the MP said that it is possible to get a minimum investment of $ 20 billion for 49% ownership, and that amount should be brought to Sri Lanka as an investment, and the valuable land must not be simply written off after being intimidated by someone else.