Construction of LAUGFS LPG Terminal in Hambantota on track
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LAUGFS LPG Import and Export Terminal in Hambantota is on track for completion in its first phase. This part, construction of which began last year, is with 30,000 MT capacity and seen progressing well on schedule to be commissioned by first half of the 2018 financial year as planned, the company said this week.
Built with an investment of US$80 million, the LAUGFS Terminal is set to be one of the largest LPG Import and Export Terminals in its class in South Asia. It was the first and the largest investment in Sri Lanka’s Hambantota Port.
“The new LPG terminal will reinforce our energy presence within the region by tapping the energy requirements of some of the largest emerging LPG markets, including India, Bangladesh and Myanmar. The Hambantota Port provides a strategic advantage to further strengthen this position given its location amidst some of the world’s largest nautical/shipping routes. Combined with these strategic advantages, we believe our own LAUGFS Terminal will help position Sri Lanka as a break-bulking hub of the region, yielding tremendous economic benefits to the country,” commented LAUGFS Group Chairman, Mr. W. K. H. Wegapitiya.
On full completion, the terminal LAUGFS Terminals will have the capacity to handle over 100,000 MT.