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

21 November 2023 01:32 pm - 11 - {{hitsCtrl.values.hits}}

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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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Comments - 11

Chryshan Tuesday, 21 November 2023 02:21 PM

I hope these are genuinely foreign involment since now. Most of the deals are done by investments from our own politicians making black money white like buying GOH hotel etc.

Amaran Tuesday, 21 November 2023 02:39 PM

Thank you for your strategic investment in Sri Lanka. I welcome RM Parks Inc to Sri Lanka.

Karalasingam Sivalingam Tuesday, 21 November 2023 02:50 PM

Competitiveness is always will bring better and efficient service to the public. A very welcome move to streamline petrol distribution.

Jayantha Tuesday, 21 November 2023 03:03 PM

These things should have being done 20 years. Then unp government tried but unfortunately marxists like jvp ruined the process with leftist parties like slfp at that time. Some people think jvp will be the solution but actually they are the main culprits. Current parliment should try to pass laws banning reversing of any privatization by previous governments.

Alam Tuesday, 21 November 2023 03:52 PM

RM owners are based where?

Priyan66 Tuesday, 21 November 2023 05:18 PM

Very good move

Anura Jayantha Tuesday, 21 November 2023 08:40 PM

The Shell octopus has gripped the country and will.now choose governments in Sri Lanka for their benefit.

SK Kumara Wednesday, 22 November 2023 01:21 AM

RM Parks knows nothing about this deal and where are the Americans ? All these people in the photo looks like the tropical iguanas. Who is providing misinformation here ?

DOT Wednesday, 22 November 2023 06:52 AM

Hope you will have a fair play!

Man Wednesday, 22 November 2023 11:55 AM

Like Sinopac, it is essential to boycott those sheds since there is a generation of a commission for Kanchana. Ceypetco must be protected unless the price is too high.

Dandeniya Hewayalage Shathika Monday, 18 December 2023 08:57 AM

What will be happened to employers who are working at CPSTL ?Will RM park offer a VRS for the employers?

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

Comments - 11

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