April 09, 2012 (LBO) – Indian Oil Corp.’s Sri Lanka unit plans to invest about 35 million US dollars to expand an oil tank farm in the eastern port of Trincomalee to store and export products, an official said. Since taking over operations of the China Bay tank farm ten years ago in 2002, Lanka IOC has made a total investment of nearly 11.2 million US dollars, he said.
The revamp covered areas such as improving facilities for fuel handling and operations, modernising old storage tanks and building new ones, and strengthening the jetty.
Lanka IOC invested about 5.62 million dollars since 2002 to improve fuel handling and such operations. Two new storage tanks of 5,500 kilolitres each were constructed along with a new pump house and bowser loading gantry at the lower tank farm area,” he said.
Lanka IOC also built a lube blending plant with a capacity of 18,000 metric tonnes a year at a cost of 5.0 million dollars to manufacture lubricants in Sri Lanka.
Lanka IOC Managing Director K R Suresh Kumar said the firm has completed initial studies on revamping the tanks which are of World War 2 vintage.
“We plan to revamp the tank farm and upgrade the facility,” he told LBO. “We want to use