Eight entities shortlisted to bid for Litro Gas Lanka and Litro Terminals

Eight firms have been shortlisted to bid for Litro Gas Lanka Limited and Litro Terminals Limited, the State-Owned Enterprise Restructuring Unit announced yesterday.

The eight entities were shortlisted from a lot of 14 bidders.

The firms that will progress to the request for proposal stage, as selected by the Cabinet-Appointed Negotiation Committee, are Bharat Petroleum Corporation Ltd, Siamgas and Petrochemicals Public Company Limited, Bgn Int Dmcc and Bayegan Dis Ticaret A.S, Confidence Petroleum India Limited, OQ Trading Limited, Tristar Transport LLC, Vitol Asia Pte. Ltd and Infinity Holdings, Infinity Holdings Sidecar 1 and National Gas Company Saog.

The government, acting through the Finance, Economic Stabilisation and National Policies Ministry, called for Expressions of Interest (EOIs) from the potential investors for the divestiture of its shares in Litro Gas Lanka and Litro Terminals, on January 16, 2024. The deadline for the submission of EOIs was March 15, 2024. 

The EOls received were evaluated in accordance with the terms and conditions set out in the Request for Expression of Interest, in compliance with the Special Guidelines on Divestiture of State-Owned Enterprises, approved by the Cabinet of Ministers in July 2023.