Under the patronage of the Ministry of Energy (MoE), Farabi Downstream Petrochemical Company (a FARABI Investment group company) signed a MoU on Feb. 26, 2025 with Xinxiang Richful Lube Additive Co., Ltd (one of the largest Lube components and package manufacturer in China), to establish a Joint Venture (JV) for manufacturing of Lubricant additive components and Packages in the Kingdom. The JV will be coming up with an Integrated State-of-the-art Lubricant Additive Plant in Yanbu, Saudi Arabia for manufacturing Lube additive components & Packages, complying global standards. Richful's market place and extensive R&D expertise in the lube additives sector, along with Farabi's state of the art manufacturing footprint within Saudi Arabia and the region makes this strategic partnership a synergistic fit to promote downstream investments driven economic growth for the country. These efforts will unlock a greater value to the Kingdom's hydrocarbon resources, utilizing local feedstock, new technologies and Import substitution through in Kingdom value addition. The JV will manufacture Lube additive packages, back integrated with lubricant component manufacturing such as lubricant Detergents, Dispersants, ZDDPs, antioxidants etc., catering to the growing automobile Industry, Industrial Lubricant Industry and marine oil industry, as a first full
