In separate filings to the CSE, Laugfs Gas (LGL) said it has entered into a business venture agreement and lease agreement with the Sri Lanka Ports Authority to lease a land located within the Hambantota port to setup a Liquefied Petroleum Gas (LPG) storage terminal project in Hambantota port.
The land leased is 4 hectares and located within Magam Ruhunupura Mahinda Rajapaksa Port.
Laugfs Power Ltd, a wholly owned subsidiary of LGL has decided to acquire 100% shares of Anorchi Lanka Ltd and Iris Eco Power Lanka Ltd.
The two firms are engaged in setting up two 10MW solar power generation projects in Hambantota.