ENOC Misr, a joint venture between Proserv Group and the Emirates National Oil Company (ENOC), signed a memorandum of understanding (MoU) with the lubricant manufacturers to evaluate blending and manufacturing ENOC lubricants in Egypt, according to a press release issued by ENOC .
The company added that this agreement comes as part of ENOC Misr’s ambitious plans to maximize operational efficiency and ensure product availability in the local market.
The Group CEO of ENOC, Saif Humaid Al Falasi, said that “The Egyptian market is one of the largest in Africa, contributing to the continent’s lubricants consumption. With a population of almost 100 million and an estimated growth rate of 2.2%, comes a consistent increase in demand for lubricant products and solutions. This, coupled with the country’s large refineries and government investment strategy has encouraged key industry players to continue investing in the lubricants industry in Egypt.”
He added that “The decision to strengthen our local presence through the set-up of blending and manufacturing operations in Egypt demonstrates our commitment to establish key infrastructure projects needed to drive the country’s socio-economic growth.”
ENOC Misr aims to expand its operations nationwide, leveraging its diverse product portfolio of its existing lubricants in addition to its aviation fuel business in Egypt.