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Final Stretch

Nov 03, 2010 (LBO) - Sri Lanka's government is scheduled to wrap up the purchase of liquefied petroleum gas distribution operations of Royal Dutch Shell for 63 million US dollars today, officials said.
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Another 24 million US dollars had been invested in building other infrastructure.
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Hiran Seneviratne, a spokesman for Shell said an agreement with the government is scheduled to be signed today.

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Sri Lanka is to buy a 51 percent stake in Shell Gas Lanka, which is a distributor in which the government already has 49 percent stake and a 100 percent stake in a storage terminal company.

Sirisena Amarasekera, a senior government official who heads a state committee in charge of the deal said out of the total of 63 million US dollars paid for the Shell units, 6.

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3 million US dollars would be set aside to deal with potential issues related to workers.

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Petroleum minister Susil Premajayanth said yesterday that there was management expertise within the gas distributor to run it and he did not see a need to bring in outside management.

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Shell is selling out of regional gas distributorships as part of its global strategy. Sri Lanka's information minister Keheliya Rambukwella said earlier that the gov

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