Chinese Oil Giant Sinopec has launched its lubricant brand in Bangladesh, making a foray into the fast-growing segment of the country’s market.

General Engineers Limited, the authorised distributor of Sinopec in Bangladesh, held the launching ceremony at a hotel here on Saturday night.

Bangladeshi Minister of Industries Nurul Majid Mahmud Humayun unveiled the Sinopec brand as the chief guest at the ceremony.

Sinopec, or China Petrochemical Corporation, is an integrated energy and chemical company with upstream, midstream and downstream operations. It is a publicly listed company in Hong Kong, New York, London, and Shanghai Stock Exchanges.

Sinopec Lubricant Company is a subsidiary directly affiliated to Sinopec. It is a professional company engaged in the operation of all Sinopec’s lubricant businesses.

Chowdhury Manarat Mahfuza, chairperson of General Engineers, and Kou Jianchao, vice president of Sinopec Lubricants Company, among others were present in the ceremony.

The minister joined the guests hailing the entry of famous Chinese brand into Bangladesh. “Chinese, they are one of our biggest development partners. We have a warm friendship with China. And Belt and Road (Initiative) is a privilege for Bangladesh and neighbouring countries.”

The minister expressed the hope that Sinopec Lubricant Company, which produces a series of products, will have a good market in Bangladesh equipped with world-class automatic blending and packaging production line.

He also advised Sinopec to establish a production plant in Bangladesh as it has a good prospect in the country.

The Chinese company has already earned its reputation in Bangladesh for successfully finishing the drilling of many onshore gas wells in the state owned gas fields.