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FINANCIAL NEWS
Total to build $10m facility in Saudi Arabia
02 Jun 2010
(MENAFN) Saudi Total Lubricants Company Ltd (SATLUB), a subsidiary of France?s Total, signed an agreement with Emaar, the Economic City (EEC) to establish a lubricants manufacturing facility in the Industrial Valley at the KAEC, Saudi Gazette reported.
With an initial investment of over $10 million, the facility is expected to create employment opportunities for 50 people. The new state-of-the-art fully automated facility is Total?s first plant in Saudi Arabia and will be commissioned in two years time.
With an initial annual capacity of 25,000MT of lubricants, the plant will produce automotive, industrial, marine lubricants and specialty products, serving a highly dynamic and demanding Saudi market with plans to export to foreign markets.
Saudi Arabia is the single largest lubricants market in the Arabian Peninsula and SATLUB is committed to establish a strong and long-term presence in this important market.
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