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Message: <blockquote data-quote="monson" data-source="post: 22121798" data-attributes="member: 30005">SINOSURE backs first-ever private sector financing facility in Sri LankaMonday, 21 August 2017 00:00<ul> <li data-xf-list-type="ul">$ 80 million for LPG storage terminal in H’tota to be the largest in South Asia </li> <li data-xf-list-type="ul">    Constructed by China Huanqiu Contracting & Engineering Corporation (HQC) </li> <li data-xf-list-type="ul">    First phase 30,000 MT storage capacity, plans to extend to 45,000 MT in phase II</li> <li data-xf-list-type="ul">    Standard Chartered first international bank to sign strategic cooperation agreement with SINOSURE</li> </ul>LAUGFS Gas Plc and Standard Chartered today announced the first-ever private sector financing facility in Sri Lanka supported by China Export and Credit Insurance Corporation (SINOSURE) for the 30,000 MT LAUGFS Import and Export Terminal at Hambantota.<img src="http://static.ft.lk/ftadmin/wp-content/uploads/2017/08/20234936/124.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />Standard Chartered Sri Lanka CEO Jim McCabe, LAUGFS Holdings Chairman W.K.H. Wegapitiya, LAUGFS Holdings Group Managing Director Thilak De Silva and SINOSURE Deputy General Manager Guo Yilin at the ceremonyAs a principal party to this transaction, Standard Chartered acted as the coordinating bank, sole facility arranger and lender for the financing facility.The LPG storage terminals by LAUGFS Terminals Ltd., a subsidiary of LAUGFS Gas Plc, is being built with an investment of $ 80 million and will be one of the largest LPG import and export terminals in South Asia. “This marks a significant milestone for our LPG Terminal project, which is well on track to be commissioned in the second half of 2018,” remarked LAUGFS Holdings Chairman W.K.H. Wegapitiya. “Once completed, the LAUGFS terminals in Hambantota will garner tremendous economic benefits to our country by helping to position Sri Lanka as a central energy hub in the region. Therefore, this financing facility’s significance will extend to a national and regional level.”The Hambantota Port is located on a strategic sea route in close proximity to some of the largest emerging LPG markets in the region, such as Bangladesh and Myanmar. Strategically located at the Hambantota Port, the LAUGFS LPG Terminal will operate as a central hub for LPG importing, re-exporting as well as the provisioning to retailers.More:<a href="http://www.ft.lk/article/636524/SINOSURE-backs-first-ever-private-sector-financing-facility-in-Sri-Lanka" target="_blank">http://www.ft.lk/article/636524/SINOSURE-backs-first-ever-private-sector-financing-facility-in-Sri-Lanka</a></blockquote>

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