(Reuters) - BP (BP.L) said on Wednesday it plans to build its third plant for blending lubricants in China for about 1.5 billion yuan ($227 million) as it looks to meet the country’s rapidly growing demand.
BP’s China president Xiaoping Yang said the country was a key growth market for premium lubricants.
The new plant, which will have an annual production capacity of 200,000 tons, is expected to start operation before the end of 2021.
BP said the plant will be able to produce premium lubricants and greases for automobiles, industrial, marine, and aviation customers, as well as special lubricants and additives.
($1 = 6.6138 Chinese yuan renminbi)
Reporting by Justin George Varghese in Bengaluru; editing by Jason Neely