Published 17th July, 2010
An unnamed Iraqi investor is establishing a $50m auto lubricants plant in Jordan.
The plant, in the Zarqa Free Zone, will produce car lubricants and is set to become the largest investment of its kind in the region to date. Lubes will include branded products for Volkswagen.
Production is expected to start as early as August 2010, with full commercial production beginning in early September this year with a capacity of 150,000 tonnes of lubricants daily.
Sales revenue is forecast at $300m in the first year.