The lubricant blending plant located at the Ceylon Petroleum Storage Terminal in Muthurajawela is scheduled to be opened later this month.

A key objective of establishing a local plant is to provide high quality lubricants to the local market at a concessionary rate and reduce the quantity of imported lubricants.

Hyrax Oil, a Malaysian manufacturer of petroleum derivatives, has invested US$ 30 million in the project, which is expected to generate four million litres a month. Deputy Minister of Petroleum Resources Development Dr. Anoma Gamage said the products manufactured at the plant were planned to be exported as well.

The new plant is expected to generate annual revenue of 60 million dollars from Sri Lanka and its regional countries.