Sri Lanka to award contract to IOC for four procurements of diesel, petrol

The government of Sri Lanka has decided to award the contract to the Indian Oil Corporation Limited for the purchase of refined petroleum products through the short-term loan facility of USD 200 million from the Export-Import Bank of India.

The proposal tabled by the Minister of Power has received the approval of the Cabinet of Ministers.

In a statement, the Government Information Department stated that Sri Lanka had called for bids for four procurements of diesel and petrol under the short-term loan facility of USD 200 million.

The decision to award the relevant contract to the Indian Oil Corporation Limited was taken upon the recommendation of the Cabinet Appointed Special Standing Procurement Committee.