Hascol Petroleum, which claims to be one of the fastest-growing oil products suppliers in Pakistan, plans to open a lube and grease blending plant in Karachi. The company is exclusive distributor in Pakistan for Fuchs Petrolub SE, of Germany.
In the past year, Hascol has invested huge money in promoting the Fuchs brand in Pakistan, for which now we are getting dividends in terms of better responses from the automotive and industrial lubricants market, Chief Operating Officer Yasin Rizvi said during an interview. Since the volume growth is really good, there is no reason why Hascol Petroleum should shy away from putting a plant in Pakistan.
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The plant, which will be built at Karachis Port Qasim, is being designed for capacity to make 10,000 metric tons per year of lubricants and 1,000 t/y of grease per shift. Hascol expects the facilities to start up by the end of 2017.
Rizvi said the company may also build a lubricant storage facility at a second site at the port.
Hascol is based in Karachi and has a fuels business that it say has grown rapidly over the past decade. Vitol Dubai Ltd., recently bought a 15 percent share of the company.
Vitol is a real big name in the oil and gas sector, and its alliance with Hascol will boost the sales of fuels in the retail as well as the commercial or industrial sectors, Rizvi said. These commercial fuels sale will generate synergy and a pull effect for the sales of lubes, and eventually the lubricants volumes will be increased in years to come.
Rizvi added that Hascol aims to sell 6 million liters of lubricants in 2016, and it expects to increase that volume by 50 percent in the next two years.