Emaar, The Economic City (EEC), developer of the King Abdullah Economic City (KAEC), has signed a memorandum of understanding with Saudi Total Lubricants Company (Satlub) - a joint venture of France’s Total and the local Al-Zahid Group - to set up a lubricant plant in the city’s industrial zone.
The plant will start commercial operations in two years. Its initial production capacity will be 35,000 tonnes a year of finished products. It is Total’s first lubricant facility in Saudi Arabia, the biggest lubricant market in the Gulf.
Located on Saudi Arabia’s Red Sea coast, KAEC is one of the largest private sector-led developments in the region. In addition to the industrial zone, the city has five other components: the sea port, central business district, including the financial district, resort district, educational zone, and residential communities.
EEC is a consortium of Saudi Arabian investors led by Dubai-based Emaar Properties.
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