Gulf Petrochem gets Sri Lanka refined petroleum products deal
ECONOMYNEXT – Gulf Petrochem FZC of the United Arab Emirates is to be given contracts for supplying refined petroleum products to Sri Lanka, a government spokesman said.
The Cabinet of ministers this week approved the proposal made by Arjuna Ranatunga, Minister of Petroleum Resources Development, to award the procurement contracts to Petrochem.
The government is to enter into term contracts to buy refined petroleum products from Petrochem with the aim of maintaining petroleum stocks at an optimal level, according to the proposal.
Cabinet approval was given to enter into two term contracts for buying refined petroleum products within a period of 10 months from 01st of September 2018 up to 30th of June 2019.
The proposal was recommended by the Special Standing Cabinet Appointed Procurement Committee.
(COLOMBO, 15 August, 2018)