Ceylon Petroleum Corporation (CPC) has started the production of lubricant oil and supplies it to the market last week enabling motorists to buy lube oil made in Sri Lanka
It has opened a lubricant blending plant at an oil terminal in Muthurajawela(Kerawalapitiya), Sri Lanka and the production is being carried out in collaboration with the CPC.
The CPC plans to earn an additional income of Rs.2 billion per annum by selling locally produced lube oil there by saving much needed foreign exchange for the country, official sources said.
Minister Mahinda Amraweera paid an inspection visit to the factory yesterday following the launch of its production process following a recent cabinet decision.
The present production is 7 percent of the plant ‘s full capacity and it will be increasing up to 20 percent by the end of this year., a senior CPC official said.
The 43,000 metric tons per year lubricant blending plant was built with an investment of U.S. $30 million on a 2.2 hectare site in Kerawalapitiya.
(LIN)