LIOC to open 50 new filling stations

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The Ministry of Power and Energy has approved the opening of 50 new fuel filling stations by Lanka IOC.

LIOC Managing Director Manoj Gupta said advertisements will appear in newspapers with regard to the proposed filling stations in about a week.

He said they will schedule interviews, inspect the selected land plots, and make decisions. He stated that they will soon publish the advertisement and begin setting up filling stations.

Gupta also said sheds cannot be opened in the middle of the night.

“The Ministry of Power and Energy has given its blessing. We’ll start advertising in a week or so,” he said.

Lanka IOC, with a market presence of 19 years, is Sri Lanka’s only private sector auto fuel retailer. With an islandwide footprint of 210 retail outlets Lanka IOC has fuelled nearly 12 per cent of the country’s retail fuel demand. Lanka IOC is also the largest provider of bunkering facilities in Sri Lanka.

Lanka IOC revenue in 2020 was Rs 66.69 billion, Operating Profit in 2020 was Rs 161 million and Net Profit was Rs 883 million.

BY Thameenah Razeek