12 January 2018 10:02 am
Laugfs Gas PLC yesterday expressed confidence in the construction of the pipeline connecting its flagship LP gas terminal to the jetty in Hambantota Port continuing, following intervention from the Board of Investment and the Development Strategies and International Trade Ministry.
“Currently LTL has been assured by the BOI and relevant Ministry concerned, that this matter will be resolved shortly through their intervention,” Laugfs said in filing to the trading floor of the Colombo Stock Exchange.
The company’s subsidiary Laugfs Terminals Limited (LTL) is constructing a US$ 80 million LPG terminal in Hambantota, and the construction on the access pipeline was halted unofficially by the Sri Lanka Ports Authority.
Laugfs said that it also had discussions with China Merchant Port Holdings, which has effective control of the port for 99 years.
“LTL is confident that this particular issue will not have any detrimental effect on the subject project, and that the project will be completed as targeted,” Laugfs said.
The first phase of the project is set to become operational on April 1, 2018 and is to contribute greatly to Sri Lanka’s exports.
Laugfs, Sanken get coal yard wind barrier deal
ECONOMYNEXT: Sri Lanka’s Laugfs Engineering (Pvt) Ltd. and Sanken Construction have won a contract to build a wind barrier around a coal and ash yard at the island biggest power plant, a government spokesman said.
The present wind barrier at the 900MW Lakvijaya Power plant on the coast of northwestern Puttalam is not enough to prevent coal dust and ash polluting neighbouring homes during windy conditions, he said. The coal dust and fly ash had been causing difficulties for residents living close to the plant.
The Cabinet of Ministers this week approved a proposal by Power and Renewable Energy Minister Ranjith Siyambalapitiya to improve the wind barrier and provide better protection for the coal and ash yard by awarding the Rs.723.7 million contract to the two firms.