RM Parks Inc. secures USD 110 million investment for 200 fuel stations

COLOMBO (Daily Mirror) - The US-based fuel distribution company RM Parks Inc. in California today signed an agreement with the BOI with an investment of USD 110 million to serve the Sri Lankan petroleum sector in collaboration with Shell Plc to operate 200 fuel stations.

Shell plc operates as an energy and petrochemical company in Europe, Asia, Oceania, Africa, the United States, and the rest of the Americas.

The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewable and Energy Solutions segments. It explores for and extracts crude oil, natural gas and natural gas liquids; markets and transports oil and gas; produces gas-to-liquid fuels and other products; and operates upstream and midstream infrastructure necessary to deliver gas to the market. 

RM Parks Inc engages in the business of the development of infrastructure relating to petroleum by setting up, conducting and operating 150 franchise fuel stations which are owned by Ceylon Petroleum Corporation, and 50 new fuel stations as per the Long-Term Contract entered into with the Power and Energy Ministry and further to import, store, distribute and sell petroleum products including petrol, diesel, jet A-1, kerosene and furnace oil, and related value-added products and to expand its business to distribution of other petroleum or gas products, by-products (including aviation fuel), EV charging, and provision of value-added services such as car wash, car service, department stores/ convenience stores, internet café, ATM, food courts etc. in the local market.

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