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12 August, 2015 09:42 AM Source: Financial Times - Sri Lanka
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Laugfs Gas Plc (LGL) yesterday announced two major initiatives which will strengthen Group’s future prospects.
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.

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