Sri Lanka’s Cabinet has given the approval to award licenses to Sinopec, United Petroleum, Australia and RM Parks of USA in a collaboration with Shell PLC to enter the Fuel Retail market in Sri Lanka.
Minister of Energy Kanchana Wijesekera said that the Energy Committee and relevant other procurement committees had given their approval and recommendation to award the 3 companies the licenses to operate in Sri Lanka.
He further noted that the 3 companies will be allocated 150 Dealer operated fuel stations each which are currently operated by the Ceylon Petroleum Corporation.
Furthermore, Minister Wijesekara said that these companies will be granted a license to operate for 20 years to import, store, distribute and sell petroleum products in Sri Lanka.
A further 50 fuel stations at New locations will be established by each selected company, he added.
Source By themorning.lk
