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Thursday, 9 September 2010

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Laugfs willing to run Shell Gas if given

Laugfs Holdings Ltd is willing to work closely with the Government to enhance the energy sector in the country.

Laugfs Holdings Chairman, W K H Wegapitiya said they are willing to take over the management of Shell Gas Lanka Ltd.

W K H Wegapitiya

The company has already expressed its interest in acquiring the stakes. He said discussions are still in process and if the Government is buying the stake, which is currently on hold an Laugfs gas will work closely with the Government to develop the energy sector in Sri Lanka”.

“Working together will enable utilizing the expertise, practices and logistics and the import terminal as a common facility which will benefit the industry positively. This would also generate revenue for the Government too,” Wegapitiya said.

We as a Sri Lankan company have understood and no objection even if the Government is eager to keep the assets from the national point of view,” he said.

“The Government has a clear macro vision of improving all segments of the economy. The idea of making Sri Lanka as a hub in various sectors such as air, port, financial, educational and energy has attracted many investments within the country and internationally.”

Laugfs Holdings’ readiness to create history by becoming strong enough to acquire stakes of a foreign petroleum company shows tremendous growth in the energy sector in the country.

“The company will expand their brand to the international arena in the near future,” Wegapitiya said.

Shell Gas Lanka Finance Director and Country Controller Rimoe Saldin said since negotiations with the Government are in the process, it is too early to comment on the final result.

CdeS

 

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