Big plans by LAUGFS across Indian Ocean region with H’tota terminal
View(s):The LAUGFS Holding group has big plans for its terminal in Hambantota (LAUGFS LPG Import and Export Terminal) and is gearing to supply power and energy to the entire Indian Ocean region.
Its chairman W.K.H. Wegapitiya told the Business Times that LAUGFS Gas is planning the groundwork to enter the Myanmar market within the next three months with their Liquefied Petroleum Gas (LPG) and lubricants. He said this on the sidelines of an event to unveil the rebranded LAUGFS Gas and Lubricants logos and brand identities recently in Colombo. LAUGFS LPG Import and Export Terminal is to be commissioned in a year’s time. The terminal will be the first step in building a regional energy distribution hub in Sri Lanka, drawing in from the Hambantota port’s unique location-specific advantages. It will bring in tremendous benefits not just for the local LPG industry, but also for the country’s economy through many lucrative revenue and employment opportunities, Mr. Wegapitiya said.
“The operation in Myanmar will be a Greenfield one,” he said adding that through their subsidiary, LAUGFS Gas Bangladesh Ltd they will expand operations there with LPG cylinders.
IN 2015 LAUGFS Power, a wholly owned subsidiary of LAUGFS Gas PLC and engaged in renewable energy solutions, announced the acquisition of Anorchi Lanka (Pvt) Ltd and Irish Eco Power Lanka (Pvt) Ltd, which has the right to develop two solar power projects. Once completed, this is expected to be the largest solar power project in the country with a combined capacity of 20MW and adding around 34GWh to the national grid every year. Situated in Hambantota in a 90 acre site, the projects are due to be commissioned during 2016 with a total estimated investment of Rs.4.5 – 5 billion and would be a precursor to the company’s ambitious plans in the pipeline for the renewable energy sector.
“LAUGFS also plans to further expand into larger scale generation of wind and hydro energy with long term plans to extend beyond national borders, into the South and South Eastern regions of Asia,” Mr. Wegapitiya added.
He said that the new LAUGFS Gas logo has been designed to represent the company’s strategic foundation. It draws inspiration from the flame of LPG and symbolises the shape of Sri Lanka with the soft curves indicating continued quality and improvements for success. The yellow background in the logo indicates the corporate stability, optimism, and responsible corporate citizenship while the blue flame represents the pure flame and efficient burn of LPG.