PM opens lubricant blending plant

PM opens lubricant blending plant

Written by Staff Writer

24 Jun, 2019 | 9:26 pm

COLOMBO (News 1st) – A new lubricant blending plant, a joint venture between the Ceylon Petroleum Corporation and a Malaysian company was declared open under the auspices of Prime Minister Ranil Wickremesinghe today (June 24).

The new plant has been built within the lubricant stock storage terminal of the Petroleum Corporation premises in Muthurajawela. This factory, which has a capacity of manufacturing 5000litres of lubricant, was built at a cost of Rs. 5260mn.

Ranil Wickremesinghe addressed the gathering at the opening ceremony.

The prime minister noted that with numerous hardships the government managed to pay loans, pay salaries for employees and the economy is directed towards recovery. He added that still, the country is not out of the woods yet and they have US$ 2000mn to be paid immediately. He shared that the measures are being taken to request US$ 2000mn from New York and London.

He added that several countries have confidence in Sri Lanka even after the April 21st attacks and they would invest in Sri Lanka. He went on to note that they have acquired the loans necessary to run the next few months.

He added that the country needs technology-based industries in Sri Lanka to adapt the country for the rapid development in the next five years. He added that the Colombo port must be developed to establish as the main hub in the region.

 

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