Business

Malaysia’s Hyrax opens $ 30 M lubricant plant in Wattala

Prime Minister Ranil Wickremesinghe a few hours ago declared open the $ 30 million Lubricant Blending Plant of Malaysia-based Hyrax Oil Sdn Bhd in Muthurajawela, Wattala.

Hyrax had invested in the plant through its strategic collaboration with Ceylon Petroleum Corporation (CPC) under a Build Operate & Transfer (BOT) Agreement where both parties forged a Supply Agreement for increased collaboration and partnership.

The plant will employ Sri Lankan workers exclusively according to the agreement.

This is the second international lubricant blending plant for the Hyrax Oil, the first one being in Johannesburg, South Africa.

Apart from the Prime Minister, present at the event were Minister of Highways & Road Development and Petroleum Resources Development – Anoma Gamage, Managing Director & Founder of Hyrax Oil – Ms. Dato’ Hazimah and Chairman of Ceylon Petroleum Corporation – Dhammika Ranatunga.

The launch event was held at the Ceylon Petroleum Corporation Terminal, Muthurajawela, Wattala.