SRI LANKA, Jan. 13 -- Laugfs Gas will infuse one billion rupees to expand its LPG transshipment terminal at the Hambantota Port.
The commissioning of the terminal, a fully-owned subsidiary of Laugfs Holdings, will take place at the end of the month.
"We will infuse one billion rupees as part of the agreement. The construction work of the terminal has been completed and will be commissioned soon. The Liquid Petroleum Gas (LPG) sector is performing well and the rupee depreciation has supported the industry," Laugfs Holdings Chairman W.K.H. Wegapitiya said.
LPG prices in the world market have come down and are likely to come down further. This will augur well for the local industry, he said.
"We plan to export excess production to Banglade...