Sri Lanka Insurance Corp gets to renew petroleum cover

March 27, 2009 (LBO) – Sri Lanka Insurance Corporation (SLIC), part of the Distilleries group controlled by businessman Harry Jayawardena, has renewed its contract for insurance cover of a government fuel terminal for 120 million rupees. The facility consists of tank farms and pipelines to store and distribute petroleum product. The government said in a statement that the Cabinet of ministers had approved a proposal submitted by the Minister of Petroleum to renew the insurance cover of Ceylon Petroleum Storage Terminals Limited (CPSTL) provided by SLIC for the 2008/2009 year.

The Ceylon Petroleum Storage Terminals is a common user facility jointly owned by the government Treasury, state-owned refiner Ceylon Petroleum Corp. and the local unit of Indian Oil Corp.