Litro Gas Lanka Ltd. yesterday announced plans to venture into the manufacture of oxygen given the rising need for it as the COVID-19 pandemic spreads.
As stipulated by the Board of Directors, Litro said a modern oxygen manufacturing plant and distribution network would be set up on the 25-acre land in Kerawalapitiya.
The company said the move was also in line with assurances from President Gotabaya Rajapaksa that there won’t be a shortage of oxygen. The President recently directed Presidential Task Force Head Basil Rajapaksa to set up an oxygen plant and provide a seamless supply of oxygen.
Litro has secured a 25-acre land area from the Sri Lanka Land Development Corporation (SLDC) and an agreement to this effect was signed yesterday. Litro Gas Lanka has already made a deposit of Rs. 500 million, in keeping with the State valuation of the land, as an advance payment towards the purchase of the land.
The deposit was presented by Litro Gas Chairman and CEO Anil Koswatte to SLDC Chairman Maj. Gen. M.R.W. Soysa.
Litro said, at present, companies supplying oxygen to the market are capable of meeting the current daily requirement for 90 metric tons, however, Litro’s move is expected to further augment this capacity to meet extra demand that will likely arise as a result of the pandemic.
“We plan to undertake this nationally critical venture under the aegis of the Presidential Task Force and will contribute towards providing the much-needed support for the country’s COVID-19 affected hospital network,” Koswatte said.
As Sri Lanka’s national LPG provider, Litro already plays a pivotal role in the country’s energy sector with a 75% market share and a network of 42 distributors, over 14,000 points-of-sale, 1,500 home delivery hubs and a seamless supply of LPG throughout Sri Lanka. The company maintains a strong market presence with their Litro Gas Home Delivery Mobile App and a dedicated 1311 customer care hotline.
(FT)