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Egypt's Al-Manar Group, which specialises in automotive lubricants, announced on Sunday the start of operations at its new 50,000 tonnes per year lube oil blending plant in the 6th of October City.
"The new plant has started producing automotive engine oil, gear oil, and industrial oil under Forma brand," Ahmed Nawara, Managing Director and CEO of Al-Manar Group, told Zawya Projects.
He said the new plant occupies only 40 percent of the plot to enable future expansion.
He said: "The total area of the plot is 10,000 square metres, and our new plant, which constitutes the first phase, occupies 4,000 square metres. We will share details of the expansion, as part of the second phase, in the coming months."
"With the launch of our new products, we plan to double our market share and export to North and East Africa," Nawara said, adding the new plant would enable the company to increase its market share to 10 percent.
The company has set a target of increasing the share of exports in overall sales to 15 percent in 2022, with exports to Morocco, Tunisia, and Algeria.
"We can expand production, blending, packing, and storage in accordance with market needs and exports," the Al-Manar Group CEO said.
Al-Manar Group has also signed an MOU with Sweden's Nanol for fuel and engine oil efficiency improvement technology.
"Our Swedish partners will share their technology of engine oil efficiency, which in turn will minimise fuel consumption, prolong vehicle service time, and improve vehicle performance," Nawara said.
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
