Sri Lankan government decides to get new jet fuel suppliers
The government of Sri Lanka is to allow the importation, supply, and sale of Jet A-1 aviation fuel to bunkers registered with the Sri Lanka Ports Authority (SLPA) to ensure the continuation of the country’s aviation services.The Cabinet of Ministers has granted approval to the proposal that was jointly presented by Sri Lanka’s Ports, Shipping and Aviation Minister Nimal Siripala de Silva and Power and Energy Minister Kanchana Wijesekara.According to reports, the daily requirement for aviation fuel for airlines operating into Colombo is around 1.2 million litres.The Sri Lankan government has also decided to grant approval for private importers to import fuel to be sold in the local market.
OSL take:
The ongoing power and energy crisis in Sri Lanka has opened up a host of new business/investment opportunities, especially in the supply of fuel. There is also a demand for new energy and fuel efficient technologies in the country. The crisis has also increased the demand for energy efficient transport methods. Therefore, apart from the business opportunity in providing fuel stocks to the country, foreign businesses/investors could explore the increasing demand for fuel and energy efficient technologies and equipment that could be used for daily work. With many Sri Lankans now opting to use bicycles as their mode of transport, there seems to be a shortage of bicycles as well. Businesses could therefore confidently explore the growing business/investment opportunities created by the ongoing crisis situation in Sri Lanka.
| Article Code : | VBS/AT/12072022/X_2 |