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* Sri Lanka Petroleum authority to establish Lubricant Blending Plant with Malaysian company
Sun, May 11, 2014, 09:01 pm SL Time, ColomboPage News Desk, Sri Lanka.

May 11, Colombo: Sri Lanka's Ministry of Petroleum Industries plans to establish a Lubricant Blending Plant in the country as a joint venture between the state-run fuel supplier, Ceylon Petroleum Corporation (CPC) and a Malaysian company.

The joint venture between CPC and Hyrax Oil of Malaysia with a US$ 9 million investment will cater to the local market as well as to the export market, according to the government.

The Kuala Lumpur-based Hyrax Oil is a Malaysian manufacturer of petroleum derivatives with a vast customer base worldwide.

Sri Lanka's cabinet recently approved a proposal put forward by the Petroleum Industries Minister Anura Priyadarshana Yapa to proceed with the related activities.

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