Minister of Power and Energy Kanchana Wijesekera says that the Cabinet has approved the granting of licenses to 03 foreign companies to enter the fuel retail market in Sri Lanka.
Accordingly, the Minister states that the Cabinet approved the granting of licenses to Sinopec of China, United Petroleum of Australia, RM Parks of America and Shell PLC to enter the fuel retail market in Sri Lanka.
It is reported that RM Parks and Shell PLC companies are going to provide services together.
The Minister said that for these 3 companies, 150 petrol stations, which are currently run by the Petroleum Corporation, will be allotted each, and a license will be given for 20 years to import, store, distribute and sell petroleum products in Sri Lanka. It has been mentioned.
It is also stated that 50 new petrol stations are to be constructed by the relevant selected companies.
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