ECONOMYNEXT- China’s Sinopec which has been assigned 150 fuel retail outlets in sri Lanka which were operated by Ceylon Petroleum Corporation, has been given the nod to set up another 50 stations, Energy Minister Kanchana Wijesekera has said.
Out of 150 stations, Sinopec has already signed up 145, Minister Wijesekera had said at a dealer convention of the new company.
‘Also we have given them the opportunity to start 50 brand new stations, in locations that may fit the requirements that exists,” Minister Wijesekera said in comments broadcast by Sri Lanka’s Derana Television.
“But it is not necessary to be restricted to 200 fuel stations. If there are any requests made by you we will be open to consideration for agreements with dealers and distributors.”
Minister Wijesekera attended the dealer convention where China’s ambassador to Colombo Qi Zhenhong was also present.
Sinopec was supposed to enter Sri Lanka in 2003 under current President Ranil Wickremesinghe who was then Prime Minister. At the time India’s IOC entered Sri Lanka.
“Under the leadership of the then prime minister Ranil Wickremesinghe, two companies asked to take part in the retail operations,” Minister Wijesekera said.
“Unfortunately due to the change of government in 2004 the companies could not take part, and due to the political changes and policy changes.