As part of its initiative to expand overseas marketing in a big way, the Indian Oil Corporation has commenced production of its Servo brand lubricants in Dubai to cater to the Middle East and African markets.
IOC, India's largest company with sales of about $26 billion in the financial year 2003, has made arrangements with BP Middle East for blending Servo, India's leading lubricant brand not only in terms of sales, but also in terms of quality and range, at their plant in Jebel Ali free zone.
The company has decided to produce Servo lubricants locally in Dubai for cost effectiveness and logistical advantage to service the markets in Middle East and African countries, an IOC official said in Dubai.
The first batch of 20 kilolitres of Servo was blended in the first week of January 2004. IOC plans to blend approximately 500 KL of the product for UAE and another 500 KL for other markets during the first year. The production is expected to double in the next year and IOC plans to raise the production to around 5000 KL per annum in 5 years time.
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