The Cabinet of Ministers has decided to award the contract for the construction of a fuel storage tank with a capacity of 15,000 cubic metres for maintaining a fuel stock sufficient for at least 30 days.

Co-Cabinet Spokesman Minister Dayasiri Jayasekara stated that the need has been identified to develop sufficient storage facilities for each petroleum products for maintaining a fuel stock sufficient for at least 30 days, while it has been estimated that an additional capacity of 100,000 metric tonnes was necessary for this purpose. 

As the initial step for this, tenders were called for the construction of a petrol storage tank with a capacity of 15,000 cubic metres at the Kolonnawa Terminal. 

Accordingly the proposal put forward by Petroleum Recourses Minister Arjuna Ranatunga to award of contract to Ms. Indo East Engineering and Construction (Lanka) Pte Ltd to build the storage tank at a cost of Rs 412.78 million exclusive of taxes, has been approved by the Cabinet. 

Meanwhile the proposal to award the contract for construction of Fuel Hydrant system and improvement of aviation fuel terminal facilities at Bandaranaike International Airport, has also received Cabinet approval. 

The proposal by Minister Arjuna Ranatunga was to award the contract to the joint venture of M/s. WEC Engineers & Constructors Pte Ltd, Singapore, PT Wijaya Karya (Persero) Tbk and China National Chemical Engineering at a cost of USD 51.5 million exclusive of Taxes.