JX Nippon Oil starts construction of lube blending plant in Vietnam

JX Nippon Oil and Energy Vietnam started the construction of a lubricant blending plant in the northern city of Haiphong on January 24.
Located in the Dinh Vu industrial Zone (IZ), the four-hectare JX Nippon Oil lubricant blending plant will begin commercial operations in early 2014, with a design capacity of 40,000 tons a year. Project cost is US$40 million.
Dinh Vu has so far attracted 47 projects with Japanese investment accounting for 50% of the total registered capital. Authorities of the IZ expect to attract US$100 million more in foreign direct investment (FDI) in 2013.
The Japanese oil giant started its lubricant business in Vietnam in 1996; it established its representative office in Ho Chi Minh City in 2010.