|
|
 |
 |
 |
| Wednesday, 30 April 2003 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Mundo to begin gas distribution soon by Channa Kasturisinghe Mundo Gas Lanka Ltd., Managing Director Ariyaseela Wickremanayake said yesterday that he will overcome every attempt by opposing parties to prevent him from coming into the local gas market and will soon distribute Mundo gas throughout the island well below the present market prices. He told the Daily News that it was unfair on the part of the Sri Lanka Ports Authority (SLPA) to demand US $ 2 million Protection and Indemnity (P&I) cover and before commencing gas transfer operations inside the Galle Port as the operation is supported by a tug salvage team in case of emergency. "No other gas company has supply salvage tugs alongside their barges and our company has assured 100 percent guarantee. However, we have already made arrangements to pay the two million US dollars insurance cover since it is our intention to provide gas to the country's consumers at a reasonable price. He said the world gas price has come down by 100 US dollars a ton with the end of the tension in the Middle East and no company in Sri Lanka passed on that benefit to the consumers. "We are prepared to sell gas at Rs. 495 a cylinder. Those who cannot compete with that price are making life difficult for Mundo by using various obstacles. The issue of the insurance cover which cropped up is also an attempt by such vested interests to prevent us coming into the market," Wickremanayake said. However, according to SLPA sources they have specified that an insurance cover for oil pollution, wreck removal and damage to port property is a must prior to commencing the gas transfer within the Galle harbour. As a result of the SLPA's opposition the company had to tow the gas storage barge Formentera out of the harbour to transfer LPG from the gas tanker Apollo Pacific which arrived from Singapore. Wicremanayake said although the Company was prevented from unloading gas at the Galle harbour he will be able to supply gas to consumers soon. "My company has spent US $ 23 million on the barge, US $ 100 million on LPG and US 2.5 million on the tug. With all these investments we will go ahead with our initial plans to supply gas to local market," Wickremanayake said. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
