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China, Australia & US to enter SL fuel market

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Minister of Power and Energy, Kanchana Wijesekera today (27) said that cabinet approval was granted today to award licenses to Sinopec, United Petroleum, Australia and RM Parks of USA in a collaboration with Shell PLC to enter the fuel retail market in Sri Lanka.

“Energy Committee & relevant other procurement committees had given their approval & recommendation to award the 3 companies the licenses to operate. The 3 companies will be allocated 150 Dealer operated fuel stations each which are currently operated by CPC. They will be granted a license to operate for 20 years to import, store, distribute and sell petroleum products in Sri Lanka. A further 50 fuel stations at New locations will be established by each selected company,” he had further Tweeted.

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Region named for mandarin cultivation

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The Ministry of Agriculture has decided to establish a mandarin orange cultivation zone in the districts of Kandy, Nuwara Eliya and Badulla.

Although oranges are already cultivated in these areas, there is a high demand among locals for imported mandarins which leads to the loss of significantly high cost.

With tests proving to be successful, it has now been decided to take measures to provide funding to locally cultivate mandarins.

Minister of Agriculture – Mahinda Amaraweera has instructed ministry officials to take measures to establish mandarin cultivations within this year itself.

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GoSL inks petroleum agreement with RM Parks

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Following the recommendations of the Cabinet Appointed Special Committee, an agreement was signed between the Government of Sri Lanka & RM Parks Inc., in collaboration with Shell for a long-term contract for the importation, storage, distribution, & sale of petroleum products in Sri Lanka, the President’s Media Division states.

The contract agreement has been signed a short while ago at the Presidential Secretariat, the PMD adds.

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SriLankan CEO forecasts USD 50 mn. profit in 2024 (Video)

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SriLankan Airlines is expecting passenger traffic to surpass pre-pandemic levels by year-end during its peak travel period, thanks to a boom in tourism.

In an interview with Channel News Asia (CNA), Nuttall said that he expected a ‘stronger outlook’ for next year, with matters gradually returning to normalcy in terms of the country’s economy and its tourist arrivals.

“Assuming that the world stays the same for the year ahead, which we expect, and the Sri Lankan economy is rebounding, tourism is coming back, we’re forecasting perhaps a 50 million profit next year”, he said in this regard.

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