Lanka IOC to explore Myanmar and Indonesian markets; retains MTI

Thursday, 21 March 2013 00:00 - - {{hitsCtrl.values.hits}}

Lanka IOC, with a vision of exporting lube products, signed an agreement retaining the services of MTI Consulting to carry out a study of the fast emerging Myanmar and Indonesian markets.

Speaking at the occasion Lanka IOC MD Subodh Dakwale said: “One of our strategic pursuits is to increase the exports of Sri Lanka, given our international capabilities in the lube business. Lanka IOC is currently exporting lubricants to neighbouring countries like Maldives and Nepal.

“We witnessed that the emerging markets in the Mekong Valley and South East Asia as prime prospects, and will be looking forward to the benefits of working with MTI, who have impressive credentials across emerging markets.”

MTI consulting has worked across emerging markets in Asian, Middle East and African regions, which includes projects carried for multi-national and regional companies in Algeria, Bangladesh, Cambodia, Egypt, Indonesia, Jordon, Iran, Iraq, Lebanon, Myanmar, Nigeria, Pakistan, Philippines and Syria

Lanka IOC is a public listed company in the Colombo Stock Exchange with a turnover of Rs. 60.4 billion for the year 2011-12.