The joint venture plant with an investment of 9 million US dollars will cater to the local and international markets, the state information office said.
Sri Lanka had a state monopoly in lubricants for several decades until the plant was privatized in the mid 1990s with the monopoly intact.
But the market was later opened up expanding the economic freedoms of citizens, but there is still a tax difference between domestic blending and imported finished products.
Blending plants in the country are now run by Chevron Lubricants with Indian Oil Corporation's unit in the island bringing in competition along with Sri Lanka based Laugfs group.
http://www.lankabusinessonline.com/news/hyrax-oil-malaysia-in-sri-lanka-lubricant-plant-with-cpc/301870392