Malaysia’s Hyrax Oil inaugurates lubricant blending plant in Sri Lanka
Malaysia’s Hyrax Oil Sdn Bhd inaugurated its lubricant blending plant in Muthurajawela, Sri Lanka, on 24 June, with Sri Lanka’s Prime Minister Ranil Wickremesinghe leading the opening ceremony. Also present was Malaysia’s Deputy Prime Minister, Ahmed Zahid Hamidi, who was in Sri Lanka for a two-day visit.
Financed with loans from Malaysia’s Exim Bank Berhad, investment in the plant which can produce 4 million litres of finished lubricants per month came to USD30 million. The plant is a Build, Operate and Transfer (BOT) investment. It will manufacture lubricants for 20 years for Ceylon Petroleum Corp. (CPC).
The products from the new lubricant blending plant will be marketed under CPC’s “Ceypetco” brand.
Hyrax Oil Group Managing Director Datuk Hazimah Zainuddin in her speech during the opening ceremony acknowledged that her grandfather hailed from Sri Lanka’s Gall Province.
Hazimah is also the chairman of Perbadanan Usahawan Nasional Berhad (PUNB), the key entity that gives out loans to finance small and medium enterprises in Malaysia.
Hyrax Oil produces lubricants for various applications including transformer oil, motor oil, and other specialty lubricants. The company has a vast network of distributors, dealers, and customers not just in its home country but also in 40 countries around the world.
Hyrax Oil is a member of the Asian Lubricant Manufacturers Union (ALMU), a Singapore-based industry trade group which represents the combined interests of Asian lubricant manufacturers, and provides services to help members grow their businesses. Hazimah was formerly a member of the ALMU leadership council.