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CPC to develop 107 filling stations

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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Produced by Lake House Copyright 2006 The Associated Newspapers of Ceylon Ltd.

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