The Ministry of Power and Energy of Sri Lanka has requested for Expressions of Interest (EOI) from established companies in petroleum producing countries giving special emphasis on lire feasibility of deployment of a viable business model using their funds for importation, distribution and selling of petroleum products in Sri Lanka on long-term agreements, according to a newspaper notice
The expected company is required to be a well-established company in a petroleum producing country with permanent presence in any part of the petroleum product supply chain and should have a sound financial viability and should possess the ability of importing petroleum products by utilizing their own forex for an agreed period without dependency on Sri Lankan Forex market.
As per the newspaper notice, it is required to enter into long-term contracts with tine Ceylon Petroleum Corporation (CPC) to ensure continuous supply of petroleum products to Sri Lanka and will engage in business using existing fuel stations owned or to be opened by the Ceylon Petroleum Corporation as well as infrastructure facilities of the Ceylon Petroleum Storage Terminals Limited (CPSTL) based on a facilitation fee and shall ensure that the products should comply with all Sri Lankan quality standards and parameters of petroleum products.
The Ministry of Power and Energy will facilitate the development of new fuel stations and storage terminals depending on the requirement of the company post commencing operations in Sri Lanka.
The companies will be shortlisted initially and Request for Proposals (REP) will be made available for shortlisted companies. The selection of suitable companies will be made on the basis of a fair evaluation Pre proposal Conference.