ENOC Misr, a joint venture between Proserv Group and the UAE’s Emirates National Oil Company (ENOC), signed a memorandum of understanding with local lubricant manufacturers to evaluate blending and manufacturing ENOC lubricants in Egypt.
The move comes as part of ENOC Misr’s ambitious plans to maximise operational efficiency and ensure product availability in the local market. The agreement will also enable ENOC Misr to strengthen its presence in the Egyptian market and offers an alternate supply option to neighbouring countries.
Saif Humaid Al Falasi, Group CEO of ENOC, said: The Egyptian market is one of the largest in Africa, contributing to the continent’s lubricants consumption. With a population of almost 100 million and an estimated growth rate of 2.2%, comes a consistent increase in demand for lubricant products and solutions. This, coupled with the country’s large refineries and government investment strategy has encouraged key industry players to continue investing in the lubricants industry in Egypt. The decision to strengthen our local presence through the set-up of blending and manufacturing operations in Egypt demonstrates our commitment to establish key infrastructure projects needed to drive the country’s socioeconomic growth.”
ENOC Misr will continue to gear its efforts towards expanding its operations nationwide. The company operates through a network of 40 local distributors; focusing on the distribution of Enoc’s flagship petrol and diesel engine oil brands within Egypt, Protec and Vulcan lubricants; as well as the provision of a wide range of multi and mono-grade products in the Egyptian market to meet vehicle requirements of petrol, motor oil and heavy-duty diesel engine oils.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/04032020/enoc-misr-expands-its-position-in-egypt/
