Laugfs working on deal with Shell
Sanjeevi JAYASURIYA
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W.K.H. Wegapitiya |
Laugfs Holding Limited is currently working on the deal with Shell
Gas to acquire the ownership of its LPG business here.
“We are having discussions with Shell and our representative is in
England.
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Shell recently announced that it is in discussions with third
parties as part of a review of ownership options for most of the
company’s liquefied petroleum gas (LPG) businesses. The scope of
the review is the Shell Gas (LPG) businesses in France, Belgium,
Netherlands, Luxembourg, Denmark, Finland, Sweden, Norway,
Hungary, Poland, United Kingdom, Malaysia, Pakistan, Sri Lanka,
Philippines, Singapore and Argentina. This review is consistent
with Shell’s strategy to concentrate its global Downstream
footprint on a smaller number of assets and markets. Here
workers at the Shell filling plant in Sri Lanka. ANCL file photo |
Laugfs is interested in the deal and initial work is progressing.
There will be a positive outcome,” Laugfs Holding Limited Chairman W.K.H.
Wegapitiya told Daily News Business.
The country’s gas industry is performing well and is recording a ten
percent annual growth.
The political stability and the peaceful environment will fuel the
positive growth further, Wegapitiya said.
Laugfs Holdings will be focusing at diversification and are looking
at tapping the agriculture sector potential in the country especially in
the North and the East. An aggressive campaign is to be launched
shortly. “We are into tyre manufacturing to the world market.
For this, the company will acquire existing rubber plantations as the
initial stage.
This will enable the company to meet the raw material requirement to
meet the growing global demand.
The company hopes to embark on having its own rubber plantation to
facilitate tyre exports this year,” he said. |
