NEW DELHI: Lanka IOC (a wholly owned subsidiary of Indian Oil Corporation Limited) will soon be inviting bids for the 50 new retail fuel outlets they have been invited to open by the Sri Lankan government.
The Ministry of Power and Energy has announced that Lanka IOC has been granted permission to open 50 new fuel stations islandwide. LIOC at present has 211 outlets.
"Expressing gratitude to Sri Lankan government, we feel proud to have received permission for opening 50 new sheds. We shall soon release the detailed advertisement for inviting applications. While investment on tanks, dispensing units, equipment shall be ours, infrastructure costs would have to be borne by dealers. The land for the outlet will have to be owned or leased by the applicant,’’ said Manoj Gupta, MD LIOC.
LIOC was the only retailer of fuel in Sri Lanka selling fuel even during peak of the crisis during late June when the country was facing protests, forcing the then President Gotabaya Rajapaksa to flee the country.
In July, continuing their effort to reach out to ensure uninterrupted supply of fuel to essential services like healthcare, LIOC had announced a preferential prioritised fuelling of 209 ambulances from their shed across the country to ensure timely medical assistance.
"We reassure our commitment to serve. Have instructed our dealers to keep specified diesel quantities available at all times," Gupta had said earlier.