Lanka IOC to invest US$30 million

Lanka Indian Oil Corp. (IOC) PLC, a subsidiary of Indian Oil Corp., will make a phased investment of US$30 million to provide world-class quality petroleum products and services at the most competitive prices to Sri Lankan customers, said Lanka IOC Managing Director (MD) K.R. Suresh Kumar. The refurbished Lanka IOC Petrol Station at Maharagama will provide state-of the-art facilities and services at par with international standards. Lanka IOC PLC, through its retail chain, is also making available non-fuel facilities like convenience stores, 24-hour ATMs (automated teller machines), etc. (August 23, 2009)