Indian group to build $ 500 mm base oil refinery in UAE
Jan. 6, 1997 Indian Hinduja Group's Gulf Oil plans to build a $ 500 million base oil refinery in the United Arab Emirates (UAE). Output from the proposed 250,000 tonnes per year refinery would mostly be supplied to Vienna-based Gulf Oil's lubricant plants in the UAE, Egypt, Morocco, Algeria and Yemen. "We are planning to set up a base oil refinery for in-house consumption in Jebel Ali Free Zone or Sharjah...It will be completed within three years from now," Hinduja Group chairman Srichand Hinduja told. Gulf Oil is also planning to expand its current lubricant and blending plant at Jebel Ali in Dubai to an annual 95,000 tonnes from its current 25,000 tonnes. OPEC member UAE has encouraged small-scale private investment in its downstream oil sector.