Lanka IOC is moving forward with plans to enter lubricant markets in Southeast Asia. A Bahrainian consulting firm said it was retained to help develop a network of distributors in Indonesia and Myanmar.
According to a news release from MTI Consulting, the firm recently provided Lanka IOC an analysis of the lubes markets in those two countries. Lanka IOC, a subsidiary of Indian Oil Corp., has now retained MTI for the next phase of the initiative.
The MTI study has given us the market map and pulse of the lubricant market in these two key emerging markets of Indonesia and Myanmar, Lanka IOC Managing Director Subodh Dakwale said in the statement. We are excited by the prospects offered by these two markets and the ability for Lanka IOC to service them. We now rely on MTI’s regional expertise in setting up our channel network.