Iran’s Sepahan Oil Company (SOC) has signed a technical cooperation agreement with Fuchs Lubricants Iranian Co., a 100% subsidiary of Fuchs Oil Middle East, to manufacture and supply lubricating grease under license from Fuchs. Fuchs is the world’s largest independent lubricant manufacturer based in Mannheim, Germany.
SOC’s grease manufacturing unit will become operational within 15 months, according to the Islamic Republic News Agency (IRNA).
Iran is the largest automotive market in the Middle East, with a population of 80 million people. Vehicle sales last year reached 1.1 million units, with new sales expected to reach 1.6 million units by 2020. Iran also has a massive transportation network.
Based in Tehran, Sepahan Oil is the largest producer of Group I base oils in the Middle East, with an annual production capacity of more than 700,000 metric tonnes.
Sepahan Oil’s key products include automotive engine oils, industrial lubricants, automotive gear oils, lubricating greases, antifreeze, paraffin wax, heavy slack wax, as well as SN500 base oil.