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Friday, December 7, 2012

Sri Lanka Chevron unit to shift blending plant

Dec 07, 2012 (LBO) - Sri Lanka's Chevron Lubricants Plc, the island's market leader, said it will shift a blending plant to an industrial estate by July 2014 at an estimated cost of 15 million US dollars.

Chevron Lubricant, a privatized unit has facilities on state land.

The firm said it is gettubg 4.5 acres from Lanka Industrial Estates Ltd (LINDEL) on a 30-year renewable lease in Sapugaskande, for the plant, the firm said in a stock exchange filing.

Funds for the relocation will be internally generated.

source - www.lbo.lk