Sri Lanka's State-owned Enterprise Restructuring Unit has officially opened the bidding process for the sale of Litro Gas and Litro Gas Terminal, as per a public notice released.
The government, holding 99.93 percent of shares through the Sri Lanka Insurance Corporation, is seeking expressions of interest with a submission deadline set for February 16.
Litro Gas, a major player in the domestic market, provides gas to 4.7 million households, holding an 80 percent market share. The government shares are currently distributed, with four workers holding the remaining balance. Notably, the company operates two fuel stations along the Southern Expressway and serves 14,000 business customers.
The firm boasts a significant daily capacity, with a filling plant capable of processing 1,600 metric tonnes of gas. Simultaneously, Litro Gas Terminal, also under the ownership of Sri Lanka Insurance, will undergo a transfer of shares to the Treasury before the anticipated sale. The terminal, sprawled across 26 acres, has an impressive capacity of 8,000 metric tonnes and features a mooring buoy facilitating the unloading of LPG via pipelines from tankers.
