JEDDAH: Petromin Corporation on Wednesday unveiled its new logo and new business strategies, and announced its new SR100 million blending plant, which will go on stream in the second quarter of 2010 and will further boost its annual production capacity.

“The leading Saudi lubricant oils company will, aside from expanding its business of lubricant products and automotive services, also mobilize additional investments to chart out its future plans coupled with a new era that it enters with its new corporate identity and a new customer care strategy,” Samir Nawar, CEO of Petromin Corporation, told a press conference at the Park Hyatt Jeddah.

Speaking about the new logo, he added that the company’s new corporate identity reflects its “new energetic spirit” as part of its new business strategy to further improve its capabilities and develop new world-class products for local and regional markets. “The new management has implemented a radical change that has seen the company organized under business groups, and this is the influence of their contribution,” Nawar added.

“The new manufacturing plant and the new structures in place will ensure that the production and the marketing of quality petroleum products and automotive services will exceed the stakeholders’ expectations including those of customers, partners and shareholders,” he said.

Petromin’s new manufacturing plant at Saudi Aramco Industrial Zone in Jeddah is designed to produce 250,000 tons of lubrication oils annually and set new standards in the region.

The factory, located on a 55,000 square meters of land, will produce all types of oil for the industrial sector, and is set to be completed in the second quarter of 2010 as the biggest blending and oil mobilization plant in the Middle East.

“The production of oil and lubricant in combination with the completely automated mixing and packaging system of the new factory will boost the company’s productivity in the oil sector and push grease production to 25,000 tons per year,” he said.

The oldest lubricant company in the Middle East, already exports its products to 35 countries.

“The opening of the new plant is the next step in a whole set of changes to increase efficiency in production and logistics in order to be the market leader of choice in the Middle East and Africa,” Nawar said.

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