LAUGFS Liquefied Petroleum Gas Terminal

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The project enatils the construction and operation of a Liquefied Petroleum Gas Terminal in Hambantota Port, Sri Lanka. Laugfs Terminals Ltd. is the company that is developing the project on behalf of Laugfs Gas PLC. The company intends to invest $58.1 million in the first phase of the construction with a capacity of 30,000 MT within the next two years. In the second phase, Laugfs Terminals expects to increase its capacity up to 45,000 MTs, which can accommodate very large gas carriers. Laugfs Terminals Limited, a subsidiary of Laugfs Gas PLC signed an agreement with the China Huanqiu Contracting and Construction Corporation (HQC) to construct the Laugfs LPG (Liquid Petroleum Gas) Terminal at the Magampura Mahinda Rajapaksa Port in Hambantota. Total investment is estimated at $120 million. Standard Chartered, acting as the coordinating bank, sole facility arranger and lender for the financing facility, lent $80 million to the project. Sinsoure insured $20 million of the debt lent by Standard Chartered. People’s Bank in Sri Lanka is lending $20 million to the project, with sponsor LAUGFS covering the rest of the costs through equity. https://ijglobal.com/data/transaction/38928/laugfs-liquefied-petroleum-gas-terminal