Mobil Jamuna to buy oil tanker for $45 million 

Mobil Jamuna Lubricants Bangladesh (MJLBD) is set to buy an oil tanker and acquire land to expand its operational footprint. 

The company's board of directors has approved the purchase of a second-hand Aframax oil tanker, the MT Nissos Delos, for $45.3 million. 

With a capacity of carrying 115,690 tonnes, the 12-year-old vessel will replace the aging MT Omera Legacy, according to a disclosure on the Dhaka Stock Exchange (DSE) website.

In a separate filing on the DSE website, MJLBD revealed plans to acquire a 209-decimal industrial plot in Shajahanpur, Bogura, for future expansion. 

The land, valued at Tk 18.81 crore, will be purchased through a tender process facilitated by Agrani Bank.

MJLBD, a joint venture between East Coast Group's EC Securities and state-owned Jamuna Oil Company, has been a prominent company in high-quality lubricant blending in Bangladesh since its inception in 1998. 

The company commissioned the country's first Lube Oil Blending Plant in May 2003, positioning itself as a pioneer in the regional lubricant industry, according to its website.