Sri Lanka's CPC eyes 60-pct of bitumen market
Jun 21, 2018 14:11 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka's state-run Ceylon Petroleum Corporation said it is planning to win 60 percent of the domestic bitumen market following an upgrade to its refinery.
The firm will produce 150 metric tonnes of bitumen a day in the first phase of production which will be 40 percent to the domestic requirement, Chairman, Dhammika Ranatunga said in a statement.
The CPC over the next several months will expand output to 225 metric tonnes a day, which is about 60 percent of the market.
Bitumen is used in road construction (road tar) and is also an ingredient in a variety of construction materials used in roofing, waterproofing and insulating.
Ranatunga said CPC will be able to provide bitumen at competitive prices to the construction sector and small and medium enterprises that use the product.
(COLOMBO, June 21, 2018)