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China

Yantai NFO Special Lubricants Co., Ltd.

$0.54 million
Manufacturing
Project Brief
Not Active

MIGA issued equity coverage for $540,000 against the risks of expropriation, and war and civil disturbance to Non-Fluid Oil of the United States for its joint venture with Shandong Yantai Glass Factory, owned by the Yantai municipality. This small business project will produce glass mold lubricants and other specialized lubricants. The products, which will initially be used by local manufacturers, will be of higher quality than currently available imported products. Other economic benefits include annual revenues for the Chinese government of about $396,000, creation of twenty-six new jobs, and local procurement of 95 percent of the raw materials. Some personnel will receive training abroad.