Aug. 7 (Bloomberg) -- The automotive lubricants unit of Saudi Arabian Oil Co., known as Saudi Aramco, will award contracts in October to expand its output capacity, Eqtisadiah reported, without saying where it got the information.
The project at Saudi Aramco Lubricating Oil Refining Co. is to be completed in the second half of 2015, the Riyadh-based newspaper said.
The lubricants company, known as Luberef, said in January 2011 that its production capacity would reach 1.3 million metric tons a year when work at its Yanbu complex is finished in 2015. Saudi Aramco, the world’s largest state-run crude producer, holds a 70 percent stake in Luberef, and Jadwa Industrial Investment Co. the remainder.
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