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.