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Lanka IOC Managing Director Manoj Gupta[/caption]
Lanka Indian Oil Corporation (Lanka IOC) is gearing up to commission a new grease plant located in the Trincomalee terminal, which was delayed from being initially commissioned by March to the end of May 2021, The Morning Business learns.
Lanka IOC Managing Director (MD) Manoj Gupta reported that the project was held till May due to the delay of the consignments dispatched from Navashiwa, Mumbai.
“It should have come up by now, by the end of March 2021. However, there was a delay due to the Covid-19 cases which have risen again, causing restrictions and precautions in Mumbai,” Gupta revealed.
Gupta added that the company expects the dispatch of consignments to arrive within seven to 10 days.
Moreover, with a capacity of 3,000 metric tonnes per annum, the Lanka IOC grease plant was reported to be the first of its kind in the country. It was also highlighted that the plant is capable of catering to the complete grease requirement of Sri Lanka.
Lanka IOC emphasised that the establishment of its grease plant lies in line with President Gotabaya Rajapaksa’s “Vistas of Prosperity” vision statement, as the import of the grease requirement may be discontinued, and hence the requirement will be catered to locally.
Gupta noted that, by his estimates, the import of grease products would cost the country an average of $ 7-8 million annually. Thereby, with this initiative, Lanka IOC aims to bring a strong contribution to the country’s economy via the establishment of the plant, which will support the Government in preserving foreign exchange.
“We hope to bring about a strong contribution to the country’s economy by helping to save foreign exchange. Thus, grease products are going to be locally manufactured in Sri Lanka, and will cater to the complete requirement of the country,” noted Gupta.
Gupta went on to reveal that the establishment of the grease plant is estimated to be 50-60% complete, and the company anticipates the arrival of the two consignments that are pending from Mumbai.
“We would also like to appreciate the co-operation and support from the Foreign Ministry. We have personally met several representatives from the administration, who were kind enough to meet us about three months ago, when the situation was not so conducive,” Gupta emphasised.
“That the relevant personnel flew in from Chennai and underwent the necessary quarantine period highlights the commitment and the skilled labour we have,” he continued.
The company also expressed gratitude to its local workers who are equipped with specialised skills.
Lastly, the company confirmed that, to commence the installation process, the motors, compressors, and other types of equipment have been put in place as well.
Lanka IOC Managing Director Manoj Gupta[/caption]
Lanka Indian Oil Corporation (Lanka IOC) is gearing up to commission a new grease plant located in the Trincomalee terminal, which was delayed from being initially commissioned by March to the end of May 2021, The Morning Business learns.
Lanka IOC Managing Director (MD) Manoj Gupta reported that the project was held till May due to the delay of the consignments dispatched from Navashiwa, Mumbai.
“It should have come up by now, by the end of March 2021. However, there was a delay due to the Covid-19 cases which have risen again, causing restrictions and precautions in Mumbai,” Gupta revealed.
Gupta added that the company expects the dispatch of consignments to arrive within seven to 10 days.
Moreover, with a capacity of 3,000 metric tonnes per annum, the Lanka IOC grease plant was reported to be the first of its kind in the country. It was also highlighted that the plant is capable of catering to the complete grease requirement of Sri Lanka.
Lanka IOC emphasised that the establishment of its grease plant lies in line with President Gotabaya Rajapaksa’s “Vistas of Prosperity” vision statement, as the import of the grease requirement may be discontinued, and hence the requirement will be catered to locally.
Gupta noted that, by his estimates, the import of grease products would cost the country an average of $ 7-8 million annually. Thereby, with this initiative, Lanka IOC aims to bring a strong contribution to the country’s economy via the establishment of the plant, which will support the Government in preserving foreign exchange.
“We hope to bring about a strong contribution to the country’s economy by helping to save foreign exchange. Thus, grease products are going to be locally manufactured in Sri Lanka, and will cater to the complete requirement of the country,” noted Gupta.
Gupta went on to reveal that the establishment of the grease plant is estimated to be 50-60% complete, and the company anticipates the arrival of the two consignments that are pending from Mumbai.
“We would also like to appreciate the co-operation and support from the Foreign Ministry. We have personally met several representatives from the administration, who were kind enough to meet us about three months ago, when the situation was not so conducive,” Gupta emphasised.
“That the relevant personnel flew in from Chennai and underwent the necessary quarantine period highlights the commitment and the skilled labour we have,” he continued.
The company also expressed gratitude to its local workers who are equipped with specialised skills.
Lastly, the company confirmed that, to commence the installation process, the motors, compressors, and other types of equipment have been put in place as well.