Economy & Market

US based Shell-RM Parks enters Sri Lanka

Further strengthening Sri Lanka’s private sector petroleum distribution, Shell-RM Parks, a leading RM Parks distributor of petroleum products from California entered into an agreement with the Ceylon Petroleum Storage Terminals Limited (CPSTL) for the storage and distribution of fuel in the country.

The agreement in this regard was inked yesterday aimed at increasing the country’s energy infrastructure and ensuring reliable access to fuel resources. The collaboration between Shell-RM Parks and CPSTL will enhance operational efficiency in the petroleum sector and bring in more world class petroleum based products to Sri Lanka,” an official from CPSTL said.“They are also expected to operate around 150 outlets in the first year of operations and extend further in the future. “RM Parks-Shell, will import fuel and use CPSTL for storage and distribution.”

( Source : Daily News)