Business
08:26, 19-Oct-2018
BP starts construction of new oil lubricant plant in Tianjin
Updated
08:09, 22-Oct-2018
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British Petroleum (BP) has started the construction of a new lubricant blending plant in northern China's port city of Tianjin.
With an investment of 1.5 billion yuan (about 214 million US dollars), the project is BP's largest investment on a single lubricant blending plant globally, the company said.
The plant will specialize in producing grease and diverse kinds of lubricants for automobile, manufacturing, navigation, and aviation. It will be put into operation by the end of 2021, with an estimated annual output of 200,000 tonnes.
Covering 150,000 square meters, the projected plant will be in the Nangang industrial area in Tianjin's Binhai New Area.
"We have full confidence in the development of Binhai New Area and will further enhance cooperation with the local authorities in order to achieve a win-win outcome," said Yang Xiaoping, president of BP China.
Source(s): Xinhua News Agency