Laugfs expanding retail presence in Sri Lanka
Southern Petroleum (Pvt) Ltd, a fully owned subsidiary of Sri Lanka’s Laugfs Holdings Ltd., is strengthening its presence in the fuel retail market by opening its first ‘ALL fuel’ filling station in Kosgoda, a growing tourist destination.
“We at Laugfs believe that it is our responsibility to expand our services to meet the growing demands of our customers and it is greatly satisfying to extend our network to Kosgoda in the southern province,” said Laugfs Holdings Chairman W. K. Wegapitiya.
The new fuel station, its fourth, was set up in partnership with Lanka Indian Oil Company (LIOC), strengthening the relationship between the Indian-owned Sri Lankan subsidiary and Laugfs.
“Indian Oil is committed to being a good strategic partner in Sri Lanka and we currently operate in more than 168 petrol and diesel stations in Sri Lanka. I am pleased to see that our experience in downstream petroleum operation in India is helping to create a healthy and competitive petroleum industry in Sri Lanka,” said LIOC Managing Director Subodh Dakwale.
Laugfs Holdings is a diversified business conglomerate and has a substantial stake in the power and energy sectors.