Laugfs Gas Bangladesh, part of the diversified Sri Lankan multinational Laugfs Holdings, announced plans to strengthen its presence in Bangladesh with renewed commitment and further investments.
These views were expressed at a Corporate Dinner Reception hosted by the company at Pan Pacific Sonargaon Hotel in Dhaka, which was graced by President Maithripala Sirisena.
The event coincided with the State visit by the President of Sri Lanka and a high profile delegation to Bangladesh. The dinner reception was graced by a gathering of eminent government officials and business leaders from both Sri Lanka and Bangladesh.
Among the dignitaries present, Ravi Karunanayake –Minister of Foreign Affairs of Sri Lanka together with Mohammed Shahriar Alam - State Minister for Foreign Affairs, Nasrul Hamid - State Minister for Power, Energy and Mineral Resources, and Zunaid Ahmed Palak - State Minister of Post, Telecommunications and Information Technology of Bangladesh addressed the gathering.
Laugfs Gas entered the Bangladesh market in 2015 with the acquisition of PetredecElpiji Limited, and is one of the largest LPG downstream players in the country. The company imports and distributes over 50,000 MT of LPG every year in Bangladesh and operates an expansive and a fast growing distribution network across the country.
“Sri Lanka and Bangladesh have shared a rich history for hundreds of years, especially entwined with trade. We are delighted to be part of this rich legacy and to be able to enrich the lives of the people of Bangladesh with whom we share a unique camaraderie,” commented Laugfs Holdings Chairman W.K.H. Wegapitiya at the event.
“As an energy conglomerate with a strong footprint within the region, we plan to invest significantly in Bangladesh over the next 3 years for capacity enhancement, expanding storage volume, setting up a cylinder manufacturing plant as well as expanding our distribution centres,” he further elaborated.
Laugfs Gas Bangladesh currently operates a world-class LPG import, bottling and distribution facility in Mongla Port. It serves the domestic and industrial segments with its 12kg cylinders for households and 12kg and 45kg cylinders for commercial and industrial customers under the brand name Laugfs Gas. It is also the pioneer in Autogas in Bangladesh and supplies LPG to automobile service stations across the country. Laugfs Gas, with its own vessel fleet, is able to provide LPG with the highest level of reliability.
“The Laugfs Gas brand signifies quality, reliability and safety,” commented Laugfs Holdings Group Managing Director, Thilak De Silva. “As a brand trusted across the region, we have made it a priority to make a positive impact on the lives of the people of Bangladesh. Strengthening our investments, creating more local employment opportunities as well as engaging our local communities will all serve towards this commitment.”
Laugfs is a diversified conglomerate with a strong presence across more than 20 industries in the power and energy, retail, industrial, services, leisure, logistics and real estate sectors. Its presence in the power and energy sector includes liquid petroleum gas, energy logistics and infrastructure, petroleum retailing, as well as renewable energy. It has a strong presence in LPG downstream and midstream activities within the region, which includes Laugfs Gas that engages in downstream activities, Laugfs Maritime, which operates its own fleet of LPG vessels providing energy logistics services within the region, as well as Laugfs Terminals, which is currently setting up one of the largest LPG import and export terminals in South Asia.