June 10, 2019 [Colombo Page] – The lubricant blending plant built at the Ceylon Petroleum Storage Terminals Ltd (CPSTL) complex in Muthurajawela is scheduled to be opened by the Prime Minister Ranil Wickremesinghe on 24th June.
Deputy Minister of Petroleum Resources Development Anoma Gamage inspected the plant recently.
The lubricants needed for the country are currently imported from overseas and with the opening of lubricants blending plant at the Muthurajawela plant high quality lubricants can be provided to the market at concessionary prices.
The Deputy Minister also said that the products will also be exported to the foreign markets as well.
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.
The new plant is expected to earn revenue of US$60 million per annum from Sri Lanka and countries within the region.