Japan’s energy firm opens subsidiary in Vietnam

Japan’s energy firm Idemitsu Kosan Ltd, Co. has established a subsidiary in Vietnam for production and sales of lubricant oil for motorbikes, meeting the growing demand of this product.

The company announced on August 16 that it has invested about US$23.3 million in Idemitsu Lube Vietnam Co., which is located in the northern port city of Haiphong. The plant, to be built on a six-hectare area, is expected to start operation in January 2014.

The company aims to sell around 20,000 kilolitres of lubricant oil in 2015, with an expected total turnover of US$35 million.

By Le My

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