Laugfs Group’s Southern Petroleum partners LIOC in new fuel station in Galle
View(s):Southern Petroleum (Pvt) Ltd, a fully owned subsidiary of Laugfs Holdings Ltd, opened its newest fuel station in partnership with Lanka IOC PLC (LIOC) in Galle last week.
This was a partnership under a MoU signed by the two parties recently pertaining to the addition of petrol variants by LIOC at standalone auto LPG filling stations owned and operated by Laugfs. The new fuel station is the first one to be established under this MoU and many more fuel stations have been planned under the dealership of LIOC in the future.
A company statement said that when the government decided to liberalize the petroleum sector almost a decade ago, Laugfs Petroleum (Pvt) Ltd created history by being the only Sri Lankan company to come forward and invest in the petroleum retail sector, thereby introducing new industry standards that the Sri Lankan petroleum industry had never experienced.
“We consider the petroleum retail trade industry as an area that needs a collective approach. Southern Petroleum’s strategic partnership with a prestigious multinational organisation such as LIOC will certainly help develop our business even further,” said Laugfs Holdings Chairman Mr. W. K. H. Wegapitiya at the opening.
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