Total Invests 30m Euros in Chinese Plant
France's oil multinational is set to put a substantial investment into North East China.
France-based lubricants company Total has invested 30 million Euros ($41m) in to build a plant in the port city of Tianjin, Northeast China. Once construction is completed in 2013, the plant will have a 200,000 ton annual capacity and will become one of Total's largest lubricant production units worldwide.
The plant will produce a wide variety of lubricants for OEMs, automobiles, motorcycles and planes, for distribution and sale in China's northeastern provinces.
According to Total's general representative in China Jaques de Boisseson, “China is one of Total's largest lubricants markets in the world. The new investment in Tianjin marks a strategic move to expand Total's market presence.”
Total is now the fifth largest publically-traded oil and gas company in the world and operates in over 130 countries and regions. After entering the Chinese market over 30 years ago, it now runs more than 30 subsidiary countries in China.
