Laugfs Gas to invest Rs. 150 m in solid tyre venture

Tuesday, 15 November 2011 00:37 - - {{hitsCtrl.values.hits}}

Laugfs Gas (LGL) has decided to invest Rs. 150 million in the parent’s export-oriented solid tyre manufacturing venture.

LGL said that investment will be via its subsidiary Laugfs Eco Sri Ltd., in the form of subscription to Convertible Debentures (at an interest rate of 6 per cent per annum).

The venture is Board of Investment approved Laugfs Corporation (Rubber) Limited, a wholly owned subsidiary of Laugfs Holdings Limited.