Udaya Gammanpila India Sri Lanka Britain county Bay Government reports BAY Udaya Gammanpila India Sri Lanka Britain county Bay

Trincomalee Oil Tank Farm: Is it only worth USD 500 Million?

Reading now: 782
www.newsfirst.lk

COLOMBO (News 1st): Sri Lanka’s Cabinet of Minister has approved the proposal for a new deal to jointly develop the Trincomalee oil tank farm with India.The Cabinet of Ministers approved to allocate 24 oil tanks for the business activities of the Ceylon Petroleum Corporation and to allocate 14 tanks of the Lower Oil Tank Complex already in use by Lanka IOC for the company’s business activities.The Cabinet also approved to implement a development project by a company named Trinco Petroleum Terminal Pvt.

Ltd for the remaining 61 tanks, of which 51% will be owned by Ceylon Petroleum Corporation and 49% by Lanka IOC.According to Sri Lanka’s Energy Minister Udaya Gammanpila, this deal will bring Sri Lanka USD 500 Million.Why is the Trincomalee Oil Tank Farm so important?Trincomalee Harbour is a seaport in Trincomalee Bay or Koddiyar Bay, a large natural harbour situated on the northeastern coast of Sri Lanka.The harbour, one of the largest natural harbours in the world, is overlooked by terraced highlands, and its entrance is guarded by two headlands, while it is well protected from the gale monsoon winds.PORT DIMENSIONSWater – 1630 hectaresEntrance channel – 500 metersLand Area – 5261 hectaresThe Trincomalee Harbour is bordered by Foul Point and Fort Fredrick, and importantly this harbur can accommodate multiple vessels at any given time.During World War II, the Trincomalee Harbour was an important position and stronghold, and construction by the Oil Tank Farm by the British commenced in 1928, and it was completed in 1938.Trincomalee harbour being the second deepest natural harbour in the world, the British who were in control of the island decided to make this their primary logistics station in the east, covering 850.

Read more on newsfirst.lk
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Roland Garros - Novak Djokovic could play in France under latest COVID-19 vaccine rules - fox29.com - France - Australia - county Park - Serbia - city Melbourne, county Park
fox29.com
77%
974
Novak Djokovic could play in France under latest COVID-19 vaccine rules
PARIS - Top-ranked player Novak Djokovic could be allowed to defend his French Open title under the latest COVID-19 rules adopted by the French government, even if he is still not vaccinated when the clay-court Grand Slam starts in May.Djokovic was deported from Australia and barred from playing in the Australian Open this month for not meeting the country’s strict COVID-19 vaccination rules.It initially appeared that the Serb tennis star would not be welcomed at Roland Garros either under a new law intended to exclude the unvaccinated from stadiums, restaurants, bars and other public places.As questions quickly arose about Djokovic's status in France following his deportation from Australia, Sports Minister Roxana Maracineanu previously said that as soon as the law was passed the country's vaccine pass would become compulsory to enter stadiums, theater or exhibitions, "for all spectators, practitioners, French or foreign professionals."But the vaccine pass is not restricted to vaccination.Under the law that took effect on Monday, anyone who has proof they tested positive within the previous six months is exempt from having to show a vaccine pass. That suggests Djokovic could play in the French Open in May and June, the next Grand Slam tournament, because he has said he tested positive in mid-December.FILE - Novak Djokovic of Serbia serves during a practice session ahead of the 2022 Australian Open at Melbourne Park on Jan.
Vladimir Putin - Jen Psaki - Lloyd Austin - Ukraine-Russia conflict: Pentagon places 8,500 troops on standby - fox29.com - Washington - Russia - Ukraine
fox29.com
78%
364
Ukraine-Russia conflict: Pentagon places 8,500 troops on standby
WASHINGTON - At President Biden's direction, the Pentagon is putting about 8,500 U.S.-based troops on heightened alert for potential deployment to Europe amid rising fears of a possible Russian military move on Ukraine.Pentagon press secretary John Kirby said Monday no final decisions had been made on deployments, which he said would happen only if the NATO alliance decides to activate a rapid-response force "or if other situations develop" in connection with tensions over Russia's military buildup along Ukraine's borders."What this is about is reassurance to our NATO allies," Kirby said, adding that no troops are intended for deployment to Ukraine itself.Kirby said Defense Secretary Lloyd Austin recommended to Biden that up to 8,500 troops be ordered to prepare for potential deployment to Europe in light of signs that Russian President Vladimir Putin is not de-escalating his military pressure on Ukraine. Kirby said he was not prepared to identify the U.S.-based units because they were still being notified."We’ve always said we would reinforce our allies on the eastern flank, and those conversations and discussions have certainly been part of what our national security officials have been discussing with their counterparts now for several weeks," said White House press secretary Jen Psaki.FILE - Pentagon Press Secretary John Kirby.