LAUGFS Gas strengthening presence in Bangladesh
View(s):LAUGFS Gas Bangladesh, part of the diversified Sri Lankan multinational LAUGFS Holdings, recently announced plans to strengthen its presence in Bangladesh.
The announcement was made at a corporate dinner reception hosted by the company at Pan Pacific Sonargaon Hotel in Dhaka in the presence of President Maithripala Sirisena.
The event coincided with the Sri Lankan President’s state visit accompanied by a high level delegation, the company said in a media release.
Among key Bangladeshi dignitaries present were Mohammed Shahriar Alam, State Minister for Foreign Affairs; Nasrul Hamid, State Minister for Power, Energy and Mineral Resources and Zunaid Ahmed Palak, State Minister of Post, Telecommunications and Information Technology of Bangladesh.
LAUGFS Gas entered the Bangladesh market in 2015 with the acquisition of Petredec Elpiji Ltd, and is one of the largest LPG downstream players in the country. The company imports and distributes over 50,000 MT of LPG every year in Bangladesh and operates an expansive and a fast growing distribution network across the country.
“Sri Lanka and Bangladesh have shared a rich history for hundreds of years, especially entwined with trade. We are delighted to be part of this rich legacy and to be able to enrich the lives of the people of Bangladesh with whom we share a unique camaraderie,” noted LAUGFS Holdings Chairman W.K.H. Wegapitiya at the event. “As an energy conglomerate with a strong footprint within the region, we plan to invest significantly in Bangladesh over the next three years for capacity enhancement, expanding storage volume, setting up a cylinder manufacturing plant as well as expanding our distribution centres,” he said.
LAUGFS Gas Bangladesh currently operates a world-class LPG import, bottling and distribution facility in Mongla Port. It serves the domestic and industrial segments with its 12 kg cylinders for households and 12 kg and 45 kg cylinders for commercial and industrial customers under the brand name LAUGFS Gas.