Lanka IOC to manufacture lubricants here
NEW VENTURE: The Indian Oil Corporation Ltd (IOC) signed an
agreement with the government for manufacturing lubricants.
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AGREEMENT: Executive Director (Lubes), IOC Mumbai Amitava Chatterjee
exchanging documents with Secretary Ministry of Petroleum and
Petroleum Resources Development A. P. A. Gunasekara in the presence
of Managing Director, LIOC K. Ramakrishnan.
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With the signing of the agreement Lanka IOC Limited the nominee of
IOC in Sri Lnaka gets the right to produce, blend, market and export
Servo branded lubricants in Sri Lanka.
Secretary Ministry of Petroleum and Petroleum Resources Development
A.P. A. Gunasekara and Amitava Chatterjee Executive Director (Lubes) IOC
Mumbai signed an agreement in the presence of K. Ramakrishnan, Managing
Director Lanka IOC Limited and officials from PERC and LIOC.
In line with the vision of Government to develop Trincomalee area
into an economically and industrially developed zone, Lanka IOC is
constructing a state-of-the-art Lube Blending Plant with a sophisticated
laboratory facility inside the China Bay tank farm area at Trincomalee.
The plant being constructed with a capital outlay of Rs. 500 million
has a capacity to manufacture 18,000 MT per annum of lubricants.
The plant will have the capability to manufacture all types of
automotive and industrial lubricants and is expected to go on stream by
August 2007.
A full fledged laboratory for testing base oils, additives and
finished products is also being established. On commissioning of the
plant, this unit will also function as a customer service laboratory for
analysing the used lube oil samples and for condition monitoring.
Servo brand of lubricants that will be blended in the plant is the
market leader in the Indian Lube industry, where all leading
multinational lubricant companies are operating. |
