Lanka IOC PLC- Serving the Emerald Isle
Lanka IOC PLC is an overseas venture of Indian Oil Corporation Ltd., India which is a Fortune 500 company with a ranking of 98th on the Fortune Global 500 listing (2011).Lanka IOC PLC is a public liability company listed in the Colombo Stock Exchange with a turnover of SL Rs.51.74 billion for the year 2010-11. Lanka IOC PLC has been ranked as No.1 amongst corporate in Sri Lanka by LMD (Lanka Monthly Digest – a business magazine) for 3 consecutive years.
LIOC holds one third share in Ceylon Petroleum Storage Terminals Ltd, the Common User Facility in Sri Lanka for storage and distribution of petroleum products. LIOC is making phased investments to provide world-class quality petroleum products and services to delight the Sri Lankan customers. With IndianOil’s vast experience in downstream petroleum operations, LIOC is in the process of creating a healthy and competitive petroleum industry in Sri Lanka for the larger benefit of the island nation.
The China Bay Tank farm, of World War II vintage, is of historic and strategic significance, being the largest tank farm located between the Middle East and Singapore. The tank farm connects to the Trincomalee harbour, which is the 5th largest all-weather, non-tidal natural harbour in the world, with a 56 km shoreline, making this tank farm most effective for fuel receipt, storage and supply. The tank farm, formerly operated by CPC, has a total of 99 tanks, each with a capacity of 12,000 kilolitres. Currently, only 15 of these tanks are operational. LIOC has invested significantly in developing the tankage and have drawn ambitious plans to make Trincomalee an important industrial site.