Sri Lanka calls for EOIs for divestiture of Litro Gas and Litro Gas Terminal
January 17, 2024 01:45 pm
The Government of Sri Lanka has called for Expressions of Interest (EOIs) for the divestiture of Litro Gas Lanka Ltd. (LGL) and the Litro Gas Terminal Lanka (Pvt.) Ltd. (LGTL).
According to the State-Owned Enterprise Restructuring Unit, the divestiture is slated to be completed through a two-stage competitive bidding process, with Deloitte Touche Tohmatsu India LLP (DTTILLP) serving as the Transaction Advisor.
As such, all interested parties are invited to access the Request for Expression of Interest document from the following website: https://www.treasury.gov.lk/web/sru-entities-to-be-divested/section/litro-gas-lanka
With a market share of 85%, LGL is the largest supplier of Liquefied Petroleum Gas (LPG) in Sri Lanka, and engages in the importing, filling, distribution and sale of LPG in Sri Lanka.
LGL operates an LPG filling plant in Kerawalapitiya with a filling capacity of 1,600 MTs/day, while a second filling plant located at Mabima is under construction.
Meanwhile, LGTL provides bulk storage and pipeline facilities for LPG, with their key storage facility strategically located in Kerawalapitiya, with a capacity of 8,000 MT.
It is also to be noted that surplus land is available at Kerawalapitiya for further expansion of both, LGL and LGTL.
