Lanka IOC (LIOC) will venture into exporting of lube oil with the setting up a modern lube blending plant in Trincomalee.
The plant will commence commercial operations next month, Managing Director R Ramakrishnan told the Daily News Business.
He said that in line with the initiative of the Government to develop the Eastern Province, as a special Economic Zone, LIOC invested Rs. 1.3 billion to construct this modern Lube Blending Plant with a sophisticated laboratory facility inside the Trincomalee Oil Farm. The plant has a capacity of 6,000 tonnes.
The company has plans to export their lube oil initially to Mauritius, Dubai, Bangladesh and Maldives, which are potential markets for them, LIOC Managing Director said.
The new plant will have the capability to manufacture all types of automotive, industrial and marine lubricants and is expected to go on stream next month to cater the local market under the Servo brand.
No comments:
Post a Comment