A total of 14 Request for Expression of Interest (REOI) have been received from potential investors for the Strategic Divestiture of Litro Gas Lanka Ltd. (LGL) and Litro Gas Terminals (Pvt) Ltd. (LGT).
According to Sri Lanka’s Finance Ministry, the government had called for REOIs on 16th January 2024, with the deadline for submission of proposals ending at 2 pm today (Mar 15).
The REOIs received were considered by the Opening Committee appointed by the Special Cabinet Appointed Negotiating Committee.
The Finance Ministry said 14 REOIs were received from the following parties:
- Epdesa Pte Ltd, Singapore
- Bharat Petroleum Cop. Ltd., India
- Ayaz Anonim Sirketi, Republic of Türkiye
- SiamGas and Petrochemicals Public Company Limited, Thailand
- BGN Int DMCC, UAE
- Confidence Petroleum India Limited, India
- OQ Trading Limited, UAE
- Tristar Group, UAE
- Laugfs Gas PLC, Sri Lanka
- United Petroleum Holdings, Malaysia
- Vitol Asia Pte Ltd., Singapore
- Infinity NGC, Sri Lanka
- China National Aero Techno, Sri Lanka
- Consulting Engineers & Contractors, Sri Lanka
The REOIs will be evaluated by the Special Project Committee as per the Special Guidelines on Divestiture of State-Owned Enterprises approved by the Cabinet of Ministers in July 2023.
The Finance Ministry added that Deloitte India acts as Transaction Advisor for the Strategic Divestiture of Litro Gas Lanka Ltd. (LGL) and Litro Gas Terminals (Pvt) Ltd. (LGT).
