Speaking to The Sunday Morning Business, Energy Minister Udaya Gammanpila stated that the progress is very slow despite the discussions held with official Indian counterparts to develop the Upper Oil Tank Farm. Nevertheless, Lanka Indian Oil Company (LIOC) Managing Director Manoj Gupta told The Sunday Morning Business early this year that the discussions held with the Energy Ministry and its Indian counterparts had been very positive. Meanwhile, Gammanpila, when contacted during the same month (February), clarified that both parties were able to come to a consensual agreement to jointly develop the oil tank farm by the LIOC and CPC with majority shares. The development of the Upper Oil Tank Farm in Trincomalee was initially signed by the previous Government with a Memorandum of Understanding (MoU) on Co-operation on Economic Projects in order to set up a joint venture between the LIOC and the CPC. The then Sri Lankan Government proposed the idea of developing and running the tanks as a joint venture in 2016 to store the fuel for power generation in an emergency situation.

Source: The Nation June 12, 2021 23:03 UTC