Sri Lanka Chevron unit to move blending plant

Sri Lanka Chevron Lubricants Plc said it plans to move its blending plant, which is currently located on government land, to 4.5 acres of land in Sapugaskande; the prospective property is owned by Lanka Industrial Estate Ltd (LINDEL). Market leader Chevron Lubricant is entering into a lease agreement for a 30-year renewable term, beginning July 2014. The move is estimated to cost US$15 million, which the firm said it will generate internally. (December 7, 2012)