Sri Lanka, Aug. 27 -- The Ceylon Petroleum Corporation (CPC) is preparing to lease 29 of the 61 abandoned tanks at the Trincomalee Oil Tank Farm as part of a drive to develop Trincomalee into a regional fuel re-export hub, with Requests for Proposals (RFPs) to be called from potential investors soon.

CPC Managing Director Dr. Mayura Nettikumara said investors will be invited to restore and develop the tanks at their own expense and use the facilities exclusively for fuel storage and re-export activities.

"The lease duration has not yet been finalised as we are still preparing the relevant documents. However, it is likely to be for more than 20 years," Nettikumara said.

The Trincomalee Oil Tank Farm is being developed through Trincomale...