Home / Front Page/ LAUGFS acquires second LPG ship

LAUGFS acquires second LPG ship


Comments / {{hitsCtrl.values.hits}} Views / Monday, 5 October 2015 00:05

Facebook

bucket-LAUGFS-Maritime

LAUGFS Maritime Services Ltd., the fully owned logistic arm of LAUGFS Gas PLC, announced the acquisition of their second LPG ship to provide logistic support for the growing LPG demand in the country. 

This latest acquisition comes as LAUGFS celebrates its 20-year anniversary this year, and will mark another important milestone as it strives to expand its presence further across the region. 

LAUGFS’s maiden acquisition of LPG ship MT ‘Gas Challenger,’ with a capacity to carry 3,500 m/tons of LPG, was made one year ago marking its entry into maritime business. This second acquisition with a total expected investment of $ 6 million, is named MT Gas Success and will have a capacity to carry 3,500 M/tons of LPG, which will increase logistic capabilities of the company.   

“As a company that embodies a truly Sri Lankan identity, we have always focused on extending our horizons beyond national borders, carrying this identity to a regional and global sphere with our strategic business investments and interests,” remarked W.K.H. Wegapitiya, Chairman of LAUGFS Holdings. 

He further stated: “Capitalising on the location-specific advantage of being in the center of Indian Ocean, we make our contribution to promote Sri Lanka as the energy logistic hub within the next three years. 

Though we are an island nation surrounded with the Indian Ocean, and located in the closest vicinity of the international sea route, very little has been done to make our country a maritime hub. These vessels would not only cater to the domestic requirements of LAUGFS, but also would support regional demands.”

LAUGFS recently announced its ambitious plans to build the largest LPG storage facility within Hambantota Port area, which would act as the central LPG storage hub for the entire region, from which the LAUGFS vessels would deliver LPG to other markets in the region of South and South East Asia. 

LAUGFS is one of the largest diversified business conglomerates and a trusted name in Sri Lanka. Founded in 1995, LAUGFS Holdings today has expanded across 20 industries, establishing a strong presence as a leader and pioneer in the power and energy, retail, industrial, services, leisure and the real estate sectors in the country. With over 4,000 employees and an annual turnover exceeding Rs. 28 billion, LAUGFS continues to expand, touching the lives of millions as a trusted Sri Lankan brand.


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Religion is a problem in Sri Lanka; can it be a solution?

Saturday, 17 August 2019

Generally, it is expected that religion should be a solution to a problem. Ironically in Sri Lanka religion is the problem. Therefore, what would be the solution? When religion becomes a problem of a country....


Orthodoxy and change: A perennial Muslim issue

Saturday, 17 August 2019

Whether Muslims live as minorities in non-Muslim countries or as majorities in a total of fifty seven countries, the clash of orthodoxy with modern challenges is a perennial issue that bedevils progress on several fronts in these communities.


Making the MCC Compact work for Sri Lanka

Friday, 16 August 2019

It is a sign of these political times that even an apolitical issue like a foreign aid program becomes a hot topic in Sri Lanka. In April 2019, the Board of Directors of the Millennium Challenge Corporation (MCC) approved a compact program for Sri La


Sri Lanka needs a president hungry for success, not power

Friday, 16 August 2019

The late John F. Kennedy described politics as a “noble adventure, an adventure in which one joins hands with the masses for the service of man”. Not that the Kennedys didn’t play “politricks” in their heyday. But playing “politricks” w


Columnists More

Special Report

SPECIAL REPORT MORE