Sri Lanka Insurance Corp gets to renew petroleum cover

Manjula Mathews, President of the Board of Directors of Habitat for Humanity Sri Lanka (L) and Yu Hwa Li, National Director of Habitat for Humanity Sri Lanka (R) present Rakhil Fernando, Managing Director of Daraz (C) with Goodwill Ambassador Certificate

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.