Royal Dutch Shell PLC's Subsidiary to Construct Joint-Venture Base-oil Manufacturing Plant with Hyundai Oilbank Co-DJ
Dow Jones reported that Royal Dutch Shell PLC's subsidiary, Shell Petroleum Company is to start the construction of its joint-venture base-oil manufacturing plant with Hyundai Oilbank Co next week. With the new plant, the Company expects to increase the supply of lubricants to China and the rest of Asia. The plant will be located in Daesan near the South Korean company's refinery. Hyundai OilBank holds a 60% interest in the joint venture; the Company’s subsidiary holds the remaining stake. The new plant is to be operational in the second half of 2014.
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