June 24, Colombo: The lubricant blending plant built at the Ceylon Petroleum Storage Terminals Ltd (CPSTL) complex in Muthurajawela will be opened by the Prime Minister Ranil Wickremesinghe today (24th June).
The Ministry of Petroleum Resources Development stated that the ceremony will take place at 3 pm with the participation of Malaysian High Commissioner in Sri Lanka Tan Yang Thai.
A Malaysian manufacturer of petroleum derivatives Hyrax Oil had invested US$ 30 million to establish the four million liters per month lubricant blending plant in Muthurajawela. Hyrax Oil constructed the plant and will manufacture the lubricant products for Ceylon Petroleum Corporation (CPC) for a term of 20 years.
The new plant is expected to earn revenue of US$60 million per annum from Sri Lanka and countries within the region.