Japan ’s energy firm Idemitsu Kosan Ltd, Co. has established a subsidiary in Vietnam for production and sales of lubricant oil for motorbikes, meeting the growing demand of this product, the company announced on Aug. 16.
The company has invested about 23.3 million USD on Idemitsu Lube Vietnam Co., which is located in the northern port city of Hai Phong . The plant, to be built on a six-hectare area, is expected to start operation in January 2014.
The company aims to sell around 20,000 kilolitres of lubricant oil in 2015, with an expected total turnover of 35 million USD./.