Third player Power Gas to make market entry
Lumbini EDIRISINGHE
The third player to the Sri Lanka's Liquid Petroleum (LP) gas market,
Power Gas Lanka will re-launch in the local market shortly.
As a third player of local gas market, Power Gas Lanka will invest
US$ five million through a joint venture, an Australian partner.
Malaysia is the main country where the company is exporting gas to the
local market.
Chairman/CEO of Power Gas Lanka Joseph Fernando told to Daily news
Business it launched Power Gas Lanka in Sri Lanka several months ago.
"After our re-launch customers can easily buy LP Gas from the market
initially in the Western Province.
"As a first step Power Gas is available in the western province. Then
we will expand our market islandwide," he said.
Initially, they will run with a storage capacity of 150 tonnes to
fulfil the demand of local market.
"However we are expecting to sell the gas below the existing oil
price "he added. The company will start with 20,000 cylinders. We also
accept cylinders from non-existing companies like Mundo Gas and E Gas to
assist them," Fernando added
Being a 100 per cent Sri Lankan company, which uses a soft approach
to ensure the smooth infrastructure, our strategy is set to provide LP
gas at a low price," he said.
Fernando was involved in the auto gas business and the conversion of
petrol vehicles to gas since 1995. |