Laugfs Gas, is currently working towards making Sri Lanka an energy hub, and Hambantota Port is their launch pad for this ambitious plan. They are of the view that the port being strategically placed in one of the world’s unique locations works to their advantage.
The company believes that they are well placed to become a big competitor to Singapore, and Sri Lanka bringing in a strong strategic partner like CMPort as a port operator, will be a tipping point that would propel the country to a new age of trade and commerce.
The Laugfs Group’s potential customers are some of the fast growing economies positioned in close proximity to the Hambantota Port like, India, Bangladesh, Maldives, Myanmar and East Coast of Africa. With a mega LPG storage complex already established adjacent to this southern port, Laugfs believes they could provide their target markets, a much better service than their competitors.
Once it is commissioned in November 2018, this will be the largest and most modern LPG related infrastructure in the Indian Ocean rim area.
W. K. H. Wegapitiya, Group Chairman of Laugfs Holdings said, “Hambantota Port was under-utilized and did not bring any value to the overall national equation. Therefore, a strategic partner was necessary to develop the port fast. This is not just for the logistics or shipping sector, but also for the economic spillover which will benefit the whole country. GDP will develop, there will be employment opportunities and wealth creation,” Wegapitiya believes that today the world is moving away from old fashioned ideas.
Laugfs has plans to bring LPG in larger vessels from international markets like the Gulf, US, Singapore etc., to Hambantota.
The Group Chairman said that the port’s two jetties dedicated for oil, gas and petroleum business, makes it convenient for the company, especially since the port will provide them with a connection facility to unload vessels through a pipeline connecting to their facility which is about 3 km from the jetty.
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