Cairo – Mubasher: UK-based Castrol will establish a new joint venture (JV) in the field of energy distribution with Taqa Arabia in Egypt under the name of Castrol Egypt Oils S.A.E.
The new company will produce, market, and distribute industrial and automotive lubricants in Egypt.
Taqa for Marketing Petroleum Products will remain as the sole distributor of the British company’s products in Egypt, Castrol said in a statement.
It is worth noting that Castrol is a subsidiary of BP Plc, which has been operating in Egypt for more than 55 years in the oil exploration and production field.
