Cabinet nod to procure $ 200 m fuel from IOC

Wednesday, 4 May 2022 04:23 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers at its meeting on Monday approved to award $ 200 million contract to the Indian Oil Corporation Ltd. (IOC) to procure fuel.

“Bids were called on 22 April to procure diesel, petrol and jet fuel type A1 under the $ 200 million short-term loan facility provided by the Export-Import (EXIM) Bank of India. The bidding process was closed on 29 April and IOC too had made bids,” Power and Energy Minister Kanchana Wijesekera said, joining the post-Cabinet meeting media briefing yesterday.

He said the approval was given following the recommendation of the Cabinet-appointed special Standing Procurement Committee.

“We are expecting four fuel shipments from India,” he added.

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