The proposal by the Minister of Power and Energy to initiate a procurement process for selecting a potential entrepreneur / investor for the first phase development plan of the Trincomalee Fuel Storage Project, has received cabinet approval.
The project envisions a total of 61 fuel storage tanks, carved out from the existing 99 tanks at China Harbour.
As per the Cabinet approval granted on January 3, 2022, 61 tanks will be leased to Trincomalee Terminal Private Limited for a 50-year period.
Initial activities, including a feasibility study, have already begun. The study recommends a 16-year phased development plan.