The Sri Lankan cabinet has granted approval for the initiation of a build-operate-transfer (BOT) project aimed at the rehabilitation of nine tanks within the upper tank farm located in Trincomalee.
Minister Bandula Gunwardana announced that both international and local investors will have the opportunity to bid for the project.
The project, which spans 1.75 kilometers of pipelines, is a crucial component of the Trinco Petroleum Terminal (Pvt) Ltd. The terminal has leased a total of 61 tanks for a 50-year period. The rehabilitation plan, as outlined in a comprehensive feasibility study, will be implemented in stages.
The first phase of the project focuses on the rehabilitation of the nine tanks, along with the associated pipeline infrastructure. The government's move to seek external investment underscores its commitment to modernize and optimize the Trinco tank farm, contributing to the overall growth and development of the region. Prospective investors are eagerly anticipated to participate in this transformative venture.
