SL to purchase 40, 000MT of diesel from IOC

The Cabinet has green-lighted a proposal to purchase 40,000MT diesel shipment from Indian Oil Company (IOC). Energy Minister Udaya Gammanpila on Monday sought the approval of the Cabinet of Ministers to purchase the diesel shipment after reaching into an agreement with IOC.

The Energy Ministry had held discussions with India’s State-Owned IOC to procure 40,000MT of diesel and 40,000MT of petrol. 
Recently, Power Minister Gamini Lokuge announced plans to hold talks with Lanka IOC, the local subsidiary of IOC to purchase required fuel for the Ceylon Electricity Board (CEB) directly to power thermal power plants.
India has already extended US$ 500 million fuel credit line to Sri Lanka.