China Travel & Tourism News
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Nippon Oil plans Guangzhou plant
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| 12-Oct-2005 - Shenzhen Daily |
Nippon Oil Corp. said Tuesday that it would invest as much as 5 billion yuan (US$616.52 million) to build new lubricating oil production plants in China and the United States next year. The move comes as Nippon Oil expects demand for lubricating oil from the United States and China to continue growing in tandem with an expected rise in production of auto and auto parts, said a company spokesman. The Japanese oil refiner and petrochemical maker plans to build a plant in Guangzhou, with construction costs estimated at 2.5 billion yuan. The new plant in Guangzhou, slated to begin commercial production in September 2006, will have a 27,000-kiloliter-a-year output capacity. Additionally, the company plans to boost the production capacity of its existing plant in nothern China's Tianjin to 55,000 kiloliters by December this year from the current 35,000 kiloliters. The Tianjin plant is owned by a joint venture company set up by Nippon Oil and China Petroleum & Chemical Corp., or Sinopec. |
| 12-Oct-2005 - Shenzhen Daily |
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