Japan’s Idemitsu Kosan to establish lube oil company in Vietnam
16 August 2012 16:55 [Source: ICIS news]
TOKYO (ICIS)--Japanese refiner Idemitsu Kosan plans to establish a lube oil production company in ?xml:namespace>Vietnam to respond to growing demand in the country, the company said on Thursday.
The new company, Idemitsu Lube Vietnam, will build a 35,000 kilolitre/year lube oil plant in Hai Phong, and begin commercial production in January 2014, Idemitsu said.
In Vietnam, production of motorcycles reached 3.8m units in 2010, and demand for high-functional lube oils is expected to continue to increase significantly, according to Idemitsu.
In accordance with the establishment of Idemitsu Lube Vietnam, Idemitsu Kosan plans to increase lube oil sales in Japan and aims to sell 20,000 kilolitres/year of lube oils by 2015, it said.
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