MOSCOW (MRC) -- Idemitsu Kosan Co.,Ltd. (Headquarters: Chiyoda-ku, Tokyo; Representative Director President and CEO: Shunichi Kito) initiated operation and production at Huizhou Plant of Huizhou Idemitsu Lube Co., Ltd., the second directly-operated lubricant manufacturing plant in China, said Chemweek.
The Huizhou Plant was built through Huizhou Idemitsu Lube Co., Ltd. (President: Daisuke Sumitomo; a wholly owned subsidiary established in September 2018) for the purpose of increasing our supply capacity in order to accommodate the growing demand for high-performance lubricants in China. The annual production capacity of this plant is 120,000 KL.
The start of production at Huizhou Plant increases Idemitsu Group’s annual lubricant supply capacity in China to a total of 290,000 KL. Idemitsu Group now has three plants in China: the new Huizhou Plant (Capacity:120,000KL),located in South China, the existing Tianjin Plant (Capacity:120,000KL)in North China, and the Changzhou Plant (Capacity:50,000KL) in East China, run by an Idemitsu affiliate Guohong Lube China . Through the operation of these three plants, Idemitsu will work on the establishment of a stable supply structure and the optimization of supply for the whole of China, which is the world’s largest lubricants market Idemitsu aims to develop and improve its marketing and supply chain in China as part of its vision to expand and emphasize our lubricants business as a global supplier.
As MRC informed earlier, Japanese oil refiner Idemitsu Kosan said on Wednesday it will end its petrochemical joint venture with German chemical manufacturer BASF due to slumping demand at home and an oversupply caused by plant expansions in Asia. The joint venture will in December close its Chiba plant for making butanediol, an organic compound used in stretchable fibres and engineering plastics. Idemitsu said it will exit from the butanediol business.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's DataScope report, PE imports to Russia dropped in January-June 2020 by 7% year on year to 328,000 tonnes. High density polyethylene (HDPE) accounted for the main decrease in imports. At the same time, PP imports into Russia rose in the first six months of 2020 by 21% year on year to 105,300 tonnes. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.
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