CPC in JV with Malaysian firm for Rs. 1 b lubricant plant
Friday, 9 May 2014 03:12
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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.
