Tide Water Oil (India), a member of Andrew Yule Group and a leading lubricant manufacturer in India, has signed a memorandum of understanding (MoU) with Japan’s JX Nippon Oil & Energy Corporation to set up a 50:50 joint venture (JV) in India. The JV entity will be responsible for selling, marketing, distributing and manufacturing the ‘ENEOS’ brand of lubricants in India, Nepal, Bangladesh and Bhutan and catering to the factory and service fill requirements of mainly, the Japanese original equipment manufacturers.
The JV is being formed with the intent that the two companies will collaborate further to develop and expand the market for lubricating oils utilizing the technology and know-how of JX Nippon Oil.
Tide Water Oil Company is a part of the multi divisional Andrew Yule group that has diverse interests in Engineering, Electrical, Tea Cultivation, Power Generation, Digital Communication Systems and Lubricants.
