Kuwait boosts European market presence
Kuwait Petroleum International (KPI), which operates under the Q8 brand, is set to expand its European presence.
KPI has begun a five-year strategy with the unveiling of 24 new storage tanks in the port of Antwerp, Belgium. The tanks, which will store 36 million litres of base oil, replace existing facilities in an upgrade worth more than €20m ($24.9m).
The tank farm will be used to supply Q8's Dutch refinery in Rotterdam before returning to the company's Antwerp plant for finishing as auto and industrial lubes. The Antwerp plant is set to produce around 130m litres of lubes annually and will supply the majority of Q8's European markets. The size of the plant is among the top 15 largest in Europe.
With headquarters in Antwerp, KPI sees the area as important for the long-term development of its European expansion strategy.
Published 1st July, 2010
