Laugfs to set up LPG storage terminal at H’tota Port

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Laugfs Gas PLC, Sri Lanka’s only private cooking gas distributor yesterday informed the Colombo Stock Exchange (CSE) its ambitious plans for the Chinese-built Hambantota Port.

In a filing, the company said its fully owned subsidiary Laufgs Terminal Limited, had entered into a business venture with Sri Lanka Ports Authority (SLPA) to set up a Liquefied Petroleum Gas (LPG) storage terminal project at the Hambantota Mahinda Rajapaksa Port.

To this end, the subsidiary company has also entered into a lease agreement with SLPA to lease a land with an extent of four hectares approximately located within the port. 

In a separate filing, Laugfs Gas said its wholly owned subsidiary Laugfs Power Limited had decided to fully acquire shares in two companies engaged in setting up two 10 MW solar power generation projects in Hambantota.

The two companies that were identified to be acquired are Anorchi Lanka (Private) Limited and Iris Eco Power Lanka (Private) Limited.

The company said further information about both the developments would be provided to the CSE in due course. Apart from LPG and energy, Laugfs group also has interests in retailing and leisure.