LITRO procures consignment of 100,000 MT of LP Gas

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LITRO Gas today (30) procured a consignment of 100,000 metric tonnes of Liquified Petroleum (LP) Gas, LITRO Chairman Muditha Peiris said.

Issuing a statement, LITRO, under the Ministry of Finance, signed an agreement with the World Bank procuring a consignment of 100,000 MT of LP Gas, worth USD 90 million.

While USD 70 million was finded by the World Bank, the remaining USD 20 million was funded by LITRO.

The consignment is expected to suffice for four months.

Accordingly, 70% of the consignment, an estimated 5 million 12.5kg cylinders, 1 million 5kg cylinders and 1 million 2.5kg cylinders, will be provided to domestic consumers, while the remaining 30% will be used for commercial purposes.

Litro Gas, under the Ministry of Finance, has successfully procured 100,000MT of LP Gas, Prime Minister’s office said in a statement.

Furthermore, an initial consignment of 33,000 tons of LP Gas procured by Litro at a cost of USD 20 million is scheduled to reach Sri Lanka in the first week of July, after which distribution will commence immediately.