CPC in JV with Malaysian firm for Rs. 1 b lubricant plant

Friday, 9 May 2014 03:12 - - {{hitsCtrl.values.hits}}

Ceylon Petroleum Corporation (CPC) is to form a joint venture with Malaysia’s Hyrax Oil to set up a lubricant blending plant with an investment of $ 9 million. The venture will cater to the growing local market as well as to the export market. A proposal to this effect submitted by Petroleum Industries Minister Anura Priyadharshana Yapa was approved by Cabinet this week.

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