The cabinet has given approval for three leading global fuel suppliers to enter the fuel retail market in Sri Lanka in collaboration with Shell Company, power and energy minister Kanchana Wijesekera tweeted.
He said China’s Sinopec, Australia’s United Petroleum and RM Parks of the United States of America will be awarded 150 dealer operated fuel stations each.
A further 50 fuel stations at new locations will be established by each company, he said.
He said the energy committee and other relevant procurement committees had given their approval and recommendation to award the three companies the licenses to operate.
They will be granted a license to operate for 20 years to import, store, distribute and sell petroleum products in Sri Lanka, the minister tweeted.