Mobil Jamuna Lubricants Bangladesh PLC is planning to buy an oil tanker and acquire land to expand its operations.

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

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

In a separate notification on the DSE website, MJL Bangladesh PLC 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.

MJL Bangladesh PLC, 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 a lubricating oil blending plant in May 2003, according to its website.