28 Jul '11, 3pm

Sinopec to construct US$91m lubricant plant in Singapore

Sinopec to construct US$91m lubricant plant in Singapore

SINGAPORE: Sinopec Lubricants, a subsidiary of the world's second largest oil refiner, will build a US$91m lubricant plant in Singapore. The facility at Tuas will be China Petroleum and Chemical Corporation's (Sinopec) first lubricant plant outside of China and is part of its efforts to establish its brand presence in Southeast Asia. Sinopec may only be behind Exxon Mobil in the business globally but the Chinese company still has a long way to go in terms of brand recognition outside of the mainland. Sinopec hopes that its lubricant plant in Tuas will help increase its sales in Australia, New Zealand and Southeast Asia. The company said it will now also reap some measure of savings as it is now based closer to customers in these places. Pei Wen Jun, general manager of Sinopec Lubricants Singapore, said: "Well, cost savings are one factor but the main point of being here is...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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