Archives

The joint venture between Ceylon Petroleum Corporation (CPC) and Laugfs Lanka Gas (Pvt)Limited (LLGL) is most likely to be finalised within this week, reliable sources told the Daily News.

Sources said that lengthy discussions were held between the two parties yesterday and the deal is most likely to be finalised today.

The CPC announced its decision to enter into a joint venture with Laugfs gas last week.

The decision follows handing over of a report on the CPC entering the local gas market by CPC Chairman Daham Wimalasena to Prime Minister Ranil Wickremesinghe early this month.

Laugfs gas Chairman W.Wegapitiya told the Daily News yesterday that the negotiations with the CPC have been successful so far. " We are almost there to finalise the agreement," he said.

The joint venture was a suggestion made by the Prime Minister and since it is an effort to bring down LP gas prices we will give our fullest support to make this MoU a success, Wegapitiya said.

However, CPC Chairman Daham Wimalasena did not give an exact date to finalise the decision. "We are still negotiating with Laugfs gas to sign a MoU and go ahead with the decision of entering the local gas market," he said. (CNK)

www.crescat.com

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager