The investment will be about 1.5 billion yuan: BP’s largest investment on a single plant
A new plant for the mixing of lubricants in the port city of Tianjin, in the north of China. This is the project of British Petroleum, which has just started the construction of the plant.
The project, as confirmed by the company in a note, has received an investment of about 1.5 billion yuan (about $ 214 million) and is the largest investment of BP on a single lubricant mixing plant globally.
The structure will be put into operation by the end of 2021
According to preliminary information, the structure should be operational by the end of 2021 with an estimated annual production of 200,000 tons of lubricant.
The plant will specialize in the production of grease and different types of lubricants for cars, navigation and aviation.
Yang Xiaoping (Chairman of BP China): “Full confidence in the development of the Binhai area”
The plant was designed to be installed in the industrial area of Nangang, in the new Binhai area in Tianjin, and will have an area of 150,000 square meters.
Yang Xiaoping, president of BP China, said: “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”.
MORE ON THIS TOPIC