Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker
ECONOMYNEXT – Sri Lankan liquid petroleum gas (LPG) supplier LAUGFS Gas said it had commissioned a new cylinder repair and refurbishing plant in Bangladesh’s Mongla port where it also plans tto expand storage capacity.
LAUGFS Group Managing Director Thilak De Silva said the facility, known as a cylinder requalification plant, was part of its strategy to expand infrastructure in Bangladesh to support market expansion.
“It will enable us to serve the Bangladesh market with the safest LPG cylinders, as part of our firm commitment to safety, quality and reliability,” De Silva said in a statement.
“We see tremendous potential in the Bangladesh LPG market and will continue to invest to strengthen our operations there.”
LAUGFS Gas Bangladesh Limited, a unit of the Sri Lankan group, has an import, bottling and distribution facility in Mongla Port and sells over 60,000 metric tonnes of LPG in the country with annual sales of more than US$50 million.
It plans to expand storage capacity to 5,000MT, which is due to be commissioned in mid-2019.
Requalification is the repair and refurbishing of used gas cylinders which are subject to wear and tear and sometimes damage owing to rough handling which can affect safety and be costly for the company.
LPG cylinders usually cost more than the gas they contain.
(COLOMBO, 28 November 2018)
- Posts : 1333
Join date : 2016-11-28
Age : 40