An Investment Cooperation Memorandum signed recently between TEDA (Nangang) Administrative Commission and Shell (China) Limited will see the kick-off of lubricants production and storage project in Nangang Industrial Zone.

Royal Dutch Shell, one of the world’s petroleum giant, has a business network in 130 countries. It is active in both the production of petroleum, natural gas and petrochemical products, and the sales of petrochemical products, road transport fuels, lubricants, aviation fuels and liquefied petroleum gas.

It is said that Shell will invest 100 million USD in the lubricants manufacturing project in Nangang, and set up production lines, each producing 300,000 tons of lubricants annually. Being launched in 2012 and put into operation in 2013, the project is estimated to produce 500,000 tons of lubricants every year, and generate 5 billion yuan of sales revenue.50 million USD will be invested in the refined oil storage project, with 300,000 m3 of storage capacity and 3 million tons of turnover annually. The project will be launched in early 2012, finished by the end of that year, and put into operation in the first quarter of 2013.