Nawaloka ABC Petroleum joins with Total to enter lubricant market

Nawaloka ABC Petroleum, a member of Nawaloka Holdings, has entered Sri Lanka’s lubricant market in conjunction with the French Fortune 500 company Total SA. This joint venture will provide a new range of lubricants which will offer consumers value for money. According to Nawaloka Chairman Jayantha Dharmadasa, “The total value of the local lubricant market is approximately Rs 11 billion (US$244 million) and it is now a growing market though it was stagnant for awhile.” General Manager of Nawaloka ABC Petroleum Sanjay Benjamin says, “Our target market is the quality conscious motorist with a sense of social responsibility who wishes to contribute towards protecting the environment.” Nawaloka will carry both the Total and Elf brands. Total products will be targeted at the automotive market, while Elf products will be targeted at two- and three-wheelers. Benjamin said products that will be offered in Sri Lanka will include passenger car and heavy-duty motor oils, motorcycle engine oils, gear oils and greases. Chairman Dharmadasa said, “The market is currently price driven, but we envisage a shift towards quality and performance in the near future.” (March 10, 2011)