CPC to develop 107 filling stations
Channa Kasturisinghe
FILLING STATIONS: The Ceylon Petroleum Corporation (CPC) is to launch
an accelerated programme to develop 107 filling stations the management
of which was transferred to the CPC by the Treasury recently.
Petroleum and Petroleum Resources Development Minister A.H.M. Fowzie
who met the existing CPC dealers in Colombo yesterday announced the
Government’s plans to add new filling stations in different parts of the
country.
As an initial step we are planning to develop these 107 filling
stations which have been neglected so far.
He said that the CPC, in order to successfully compete with Lanka IOC
would further develop its facilities and expand its distribution
network.
He said the CPC has so far been able to maintain the market leader
position having more than 70 per cent market share in the petroleum
business in Sri Lanka.
The retail marketing of petroleum products was liberalised in Sri
lanka with the entry of the Lanka IOC. The number of marketing companies
have been restricted to three players for an initial period of five
years from 2004.
The opening of new filling stations and relocation of existing
filling stations owned by the three players have also been prohibited
until the end of the year 2006. The lifting of these restrictions would
enable the two existing players to set up new filling stations in
various parts of the island.
The Minister said Lanka IOC has already made a request to set up 300
new filling stations and the CPC also would expand its network.
“However, we will ensure that the setting up of new filling stations
will not affect the businesses of the existing filling stations owners,”
Minister Fowzie told the dealers.
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