Nippon Oil, Sinopec to build lubricant oil plant

Newswire

TOKYO, Aug 27 (Reuters) - Nippon Oil Corp. , Japan's biggest refiner, said on Friday it would form a 1.5 billion yen ($13.7 million) venture with China's Sinopec Group to build a lubricant oil plant in southern China, eyeing increasing demand from local auto makers and other manufacturers. The plant, to be built in Guangzhou, Guangdong province, is expected to start operations in 2006 with annual output of 50,000 kilolitres, a Nippon Oil spokesman said. Total investment is seen at about ...

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