LIOC to upgrade Trinco oil facility

Shirajiv Sirimane

Lanka IOC PLC is contemplating an investment of around US $ 50 to 60 million to upgrade their oil terminal facility in Trincomalee. Managing Director, Lanka IOC, Subodh Dakwale speaking to Daily News Business said that they want to primarily ‘refurbish’ 30 tanks. “We are looking at doing this phases starting end of this year and would reinvest our own funds and also look at a partner for this,” he said.

Dakwale said that they are also looking to locally manufacture the newly introduced ‘Servo futura’ lubricant which is currently being imported from Dubai.“We introduced four products and Lanka IOC is in a position to locally manufacture the Servo product offered for diesel vehicles.

He said that they are looking at manufacturing servo futura D’ in a few months and would also look at exporting it to the region including Indonesia.

Launch of Servo Futura range of Lubricants consisting of Servo Futura Synth, Servo Futura P, Servo Futura P Plus, Servo Futura D, he said the launch marks a distinct technological milestone in the 40 years history of band Servo.’

Speaking further he said the ‘Servo Futura meets the latest international specification of American Petroleum Institute, Volvo and Mercedes Benz besides the latest European specifications. ‘With the launch of Servo Futura Synth Lanka IOC now joins the select brands of premium global lubricants that offer fully synthetic engine oils.

The top-end offering Servo Futura Synth is a 100% synthetic premium lubricant that is formulated from performance enhancing Polaphoalefins group IV base oils and additives that are classified by the American Petroleum Institute (API). Servo Futura Synth meets the most advanced performance level standards of APISN, with 5W-50 viscometrics ensuring improved mileage and excellent engine performance. The product offers outstanding protection to engine, besides, enhanced engine life through its effective anti-wear capabilities.

Servo Futura range of lubricants is a unique combination of products and services that enable users to combine high quality maintenance, and reduced operating costs for materials. It is the smart solution for people who want to simplify the maintenance of their car. It caters to an entire range of new generation vehicles and the advantage of Futura is that it clings to the piston and works even when the engine is not running.

Servo with more than a 40% share in the Indian market of approximately 1.4 million metric tonnes served by more than 40 lubricant companies which include all of the world’s leading brands, is fast becoming Sri Lanka’s preferred choice of lubricants ahead of its competitors due to the unmatched quality and range of its products. Today, Servo is the second largest selling brand in Sri Lanka.

“Being a market leader, we have a keen eye on the ever changing dynamics of the market. Rising oil prices and the ever growing demand for environment protection has resulted in the industry seeking energy efficient and less polluting engines.

In turn this has pressurized oil manufacturers into delivering absolutely cutting edge products.” He further said, “For more than 40 years Servo has worked assiduously to earn the trust of man and the respect of machine. Today, it symbolizes innovation, technology, reliance and value.’ Lanka IOC PLC is the overseas venture of IOC India, a Fortune 500 company.