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Shell Gas deal to be completed next month

Oct 13, 2010 5:17:13 AM - itnnews.lk

Plans are afoot to complete the acquisition of the Shell Gas Company by the Government within next month.

The Cabinet nod has been given for the Government to take over 51 percent of all shares coming under the international company and 100 percent of the shares of the Shell Terminal Company.

The payment the Government is due to make is 65 million US dollars. Prime Minister’s Secretary, S. Amarasekera who is heading the committee appointed on behalf of the Government is confident that work related to the agreement can be completed within next month.