Rancon Lubricants Limited, a subsidiary of Rancon Group, has signed an agreement with Invest Bangladesh to lease a 6.5-acre developed plot for 50 years, renewable, in the National Special Economic Zone at Mirsharai in Chattogram. The company plans to invest US$19.65 million to establish a lubricants blending plant with an initial annual production capacity of 25 million litres, covering industrial and automotive lubricants as well as a range of specialised products. The project is expected to create more than 250 jobs and commence operations within 36 months of the handover of the land. The investment aims to meet growing domestic demand and strengthen supply stability by importing raw materials and blending lubricants locally instead of importing finished products.
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