Petronas invested RMB600 million (RM384 million) to expand its lubricant-blending plant in Shandong, China to meet the market’s growing demand for the product.
In a statement, Petronas president and group CEO Datuk Wan Zulkiflee Wan Ariffin said the annual output of the plant within the Weifang Economic Development Zone was expected to increase from 45,000 to 150,000 tonnes, which included automotive and industrial lubricant.
“The second phase expansion at our Shandong plant adds much-needed production capacity that will help us meet the soaring demand for our products.
"This strategic expansion of our footprint in China reflects the great importance we attach to our local customers here as well as our confidence in Petronas' prospects for future growth in the Chinese market," Wan Zulkiflee said.
Petronas issued the statement in conjunction with the recent launch of the plant. Petronas operates the plant under Petronas Lubricants International.
Wan Zulkiflee said besides lubricant production, Petronas was also actively growing its liquefied natural gas business in China.