Sri Lanka Ports Authority reviews gas storage terminal lease
May 04, 2016 18:06 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka Ports Authority (SLPA) is reviewing a 10-year lease of its liquid petroleum gas (LPG) storage terminal in the southern port of Hambantota.
The SLPA last year entered into a 10-year lease agreement with Litro Gas Terminal Lanka (Pvt) Ltd., part of Litro Gas, the largest importer and supplier of LPG to Sri Lanka.
The lease was to operate the LPG facility at the Hambantota port.
“However, due to poor demand for this operation, SLPA management is in the process of reviewing the agreement,” the Central Bank annual report has revealed.
Litro Gas Terminal Lanka Ltd had leased the LPG tank facility at Hambantota port, which includes three tanks and an administration building with other common user facilities including loading arms and pipelines.
The three LPG tanks have 2,000 cubic metres of storage each.
(Colombo/May 04 2016)