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Thursday September 29th, 2022

LIOC responds to EOI to contract out Sri Lanka CPC filling stations

ECONOMYNEXT – Lanka IOC, a unit of Indian Oil Corporation responded to an expression of interest called by the Energy Ministry to give a part of it distribution network to oil companies that are willing to import fuel using their own foreign exchange, managing director Manoj Gupta said.

Sri Lanka’s ministry of energy on July 25 called for expressions of interest from “established companies in petroleum producing countries” who would able to import fuel “utilizing their own forex for an agreed period” without buying from the domestic market.

“We have expressed our interest to the government,” Gupta said.

Energy Minister Kanchana Wijesekera has said that around 200 to 400 filling stations from the 1,190 strong petrol sheds could be given to up to 4 foreign players.

The chosen companies would leased Ceylon Petroleum Corporation filling stations on a long term contract and will also be allowed to use common user infrastructure facilities for a fee.

Sri Lanka had also given approval for Lanka IOC to appoint 50 additional dealers. The firm has 210 dealers according to last annual report.

The company will advertise seeking new dealers and locations in a week or two, he said. (Colombo/Aug09/2022)

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