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Sales volumes have increased in recent months and the number of bunker supply license holders had increased to 11 from eight in 2008 when the market was liberalised.
The SLPA plans to more than double bunker fuel storage capacity to 95,000 metric tonnes with the aim of making Colombo a bunkering hub, a ports authority statement said.
Facilities to accommodate excess quantities of petroleum products based on the import plans will be arranged at weekly meetings.
A storage tank with a capacity of 5,200 MT is being built at a cost of 110 million rupees to enhance the present storage capacity of 29,500 MT.
A feasibility study is being conducted to identify the best location to construct another tank for the storage of marine diesel oil which will cost about 90 million rupees.
Obsolete oil pipelines are to be replaced at a cost of 150 million rupees to improve the efficiency in transfer of marine fuel from Colombo port to the Colombo Oil Bank bunkering facility.
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The SLPA also