KNLOC to boost production KNLOC to boost production capacity
Kuwait National Lube Oil Manufacturing Co. (KNLOC), a unit of Kuwaiti diversified company Arabi Holding Group, plans to boost its daily production capacity to seven million gallons (24.5 million liters) per year of lubricating oil, Al Watan Daily reported. To fund the expansion project, the company will raise its capital to 134 million dinar (US$476.07 million). After the expansion, KNLOC will reportedly become the largest lubricating oil manufacturer in the Middle East. Arabi Holding Group was established in 1982 and was listed on the Kuwait Stock Exchange (KSE) in July 1997. (October 20, 2010)