R.M. Parks Company USA with Shell Company plans to launch retail fuel sales in Sri Lanka within 45 days.
A long-term agreement in this regard was signed by the Government and Parks Company (RM Parks Inc) at the President’s Office. President Ranil Wickremesinghe was also present.
Secretary of the Ministry of Power and Energy, Mapa Pathirana and Vice President of RM Parks Company, Justion Divis, signed the agreement.
One of the key conditions for new retail suppliers entering the market is the ability to secure foreign exchange needs themselves without relying on local banks.
These companies must use their own funds to purchase fuel through foreign sources at least within a year of starting operations. After receiving their consent for this, the shortlisted companies were invited to submit their proposals.