Hyundai Oilbank delving into lubricant base oil with tie-up

Home > Business > Industry

print dictionary print

Hyundai Oilbank delving into lubricant base oil with tie-up

Hyundai Oilbank said yesterday it has joined forces with the Shell Peroleum Company to enter the lubricant base oil business.

The deal with the energy company was reached earlier in the day in Singapore, Hyundai Oilbank said, adding that lubricant base oil production is expected to start in 2014 at the company’s Daesan plant 110 kilometers (68 miles) southwest of Seoul.

The joint company, to be named Hyundai and Shell Base Oil, will be officially launched in March, with a capacity to reach 20,000 barrels. Construction on the new 33,000 square-meter plant is expected to kick off in October.

More in Industry

Work at home is not as easy as it sounds, ministry says

Flying visit

[NEWS IN FOCUS] Spotify is still almost here, and seems to be getting closer

Korea Inc. calls on Suga to relax border restrictions

House-bound consumers awaken a sleeping industry

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now