Hi-Tech Lubricants starts commercial production at newly expanded plant
Hi-Tech Lubricants has started commercial production from its expanded lubricant blending plant in Lahore, Pakistan.
“The blending plant is a wholly owned subsidiary of the company, which is registered for commercial production by the Oil and Gas Development Company,” Hi-Tech Lubricants Company Secretary Muhammad Imran said in a notification to the Pakistan Stock Exchange.
The investment in the lube blending plant of Rs1.91 billion (USD 18 million) came from equity partly raised from a recent initial public offering, as well as debt.
The plant expansion included the manufacturing of jerrycans and plastic drums.
Hi-Tech Lubricants said the expansion will allow it to start exporting lubricants to Afghanistan.