RM Parks-Shell, one of the four fuel sector companies selected to operate in the country has planned to commence their operations in the country by first week of June. Power and Energy Minister Kanchana Wijesekera has been informed that the RM Park-Shell company will begin business operations of importing, distributing and selling fuel in Sri Lanka in the first week of June.
This was revealed by the officials of RM Parks-Shell Company, who held a meeting on Tuesday (25) with Minister Wijesekera through the online system.
Meanwhile, a team of Sinopec officials and technical experts visited Sri Lanka to finalise the agreements and commencement of operations for retail fuel selling here. After meeting the officials of the CPC and the Ministry they discussed on the time frame, conditions of the agreement and other concerns. It was decided to sign the agreement by mid May and commence operations 45 days from the signing.
There, the necessary business licences, agreements, policies, infrastructure, contractual dates and the time frame for starting the operations were discussed. Besides, it was agreed to sign a contract between the Ceylon Petroleum Corporation (CPC) RM Parks-Shell in mid-May and begin commercial business operations in the first week of June.
Also, the company’s technical officers observed during their visit to the Ceylon Petroleum Storage Terminal Limited (CPSTL) last week and supported the modernization of internationally required facilities in their financial investment in May.
Power and Energy Ministry, the Central Bank of Sri Lanka, the Board of Investment, Petroleum Corporation and the Petroleum Storage Terminal officials joined the meet online.