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00:00 Lubriff is aiming to grow in production in the future
00:05 after 2025
00:08 The project is planned to be completed in the second half of 2025
00:13 What do you mean by completed?
00:15 The production is planned
00:19 Currently, Lubriff's production capacity is 1.4 million tonnes annually
00:25 The project is planned to grow from 1.4 million to 1.7 million tonnes annually
00:31 so that Lubriff is the first regional company to reach this production capacity
00:35 The funding is around 230 to 250 million dollars
00:43 It is a planned project, and it is not a project that is planned
00:45 How was the funding allocated for this project?
00:52 Do you rely on the company's resources or did you resort to the funds?
00:56 This is a good question
00:57 The project produces Group 2 and Group 3
01:01 They are the most qualitative in the world
01:03 and they are used locally and internationally
01:05 The funding is currently from the company's resources
01:09 and the company is able to do this with its strong financial center
01:14 To what extent do you have a desire for loans in the coming period?
01:19 Especially since the interest rates are high
01:22 and today, all the investors and all the executive presidents
01:26 are looking forward to what will happen to the interest rates
01:29 How is it possible to reflect this on the current financial situation?
01:32 It is very important
01:33 The interest rate is high
01:35 As we heard today and yesterday, it is higher for longer
01:39 It is a long term
01:41 So, loans will be unprofitable for some of the upcoming projects
01:47 The company is currently studying with projects and a strategy
01:53 to increase production from 1.7 million after the launch
01:57 to more, God willing, we hope
01:59 There are investment opportunities
02:01 According to the investment opportunities, we make an arrangement
02:04 in terms of the financial quality
02:11 which is NPV and Discounted Cash Flow
02:14 But you haven't allocated a specific budget or cap ex for these expansion
02:19 The company's business plan cycle is every three years
02:24 and it is renewed every year
02:27 Any project that has a positive financial opportunity
02:34 we fund it
02:37 We are talking about 200 million to 300 million dollars
02:41 in three years, but every year
02:44 So, 200 to 300 million dollars annually for the next three years
02:49 Yes
02:50 Regarding the expansion and the launches
02:54 we see that you are heading to Africa and China
02:58 Tell us a little about this
02:59 I can explain that Lubriff is also a member
03:03 and this is very important strategically
03:05 a member of the Aramco-Luziot Alliance
03:09 and one of the members is our partner S.Oil in South Korea
03:15 and Motiva in the United States
03:19 Through this alliance, Lubriff enables Lubriff to enter these markets
03:24 whether in Europe, Asia or the United States
03:27 and vice versa
03:29 from S.Oil and Motiva to Middle East markets
03:35 and African markets
03:36 For us, Africa is a very important market
03:40 How much is the market share in Africa?
03:42 For information, Lubriff, in the last three years
03:47 from 20,000 tons annually
03:50 in three years, reached 150,000 tons annually for Africa
03:55 For Africa, it is seven or eight times what we were on
03:59 So, it is an important and steady market for Lubriff
04:02 As a market share
04:03 Global growth is expected to be large
04:09 especially in the emerging markets
04:13 I want to emphasize that we are very optimistic
04:17 with the vision of 2030
04:19 and we see the massive projects
04:21 and all these projects need oil
04:23 from ships to trains
04:25 Therefore, Lubriff sales increased by 7% locally
04:29 in the last year
04:31 This is a proof that the local market is also strong
04:36 and we look at the global markets as well
04:38 China is one of them
04:40 We see that China has a good growth
04:42 but if you look at the indicators like PMI and others
04:45 we are optimistic that China's growth will return
04:49 not with its current capacity
04:51 but with respect to...
04:53 What is the market share of Lubriff in China?
04:58 I will go back and say that we are part of the alliance
05:00 The alliance is 14% of the market share
05:03 and it is the largest market alliance for oil in the world
05:08 Through this alliance, we have the strategy
05:12 and the strategy to enter the Chinese markets
05:15 We can enter Pakistan, we can enter Europe
05:17 through this alliance
05:19 One last question
05:20 We are watching the FII
05:22 and we saw that many Saudi companies
05:24 announced alliances with Chinese companies
05:27 and even the Chinese delegation that we saw this year
05:30 is more than any of the previous years
05:33 To what extent do you have an interest in making alliances
05:36 specifically with Chinese companies?
05:38 We are the main oil
05:41 Of course, we are among the main oil
05:44 It is the raw material for the last oil
05:49 Like other companies that use the last oil
05:53 we are the ones who finance it
05:55 If there are Chinese companies
05:59 that use the last oil in cars or in fueling
06:03 we use this material, which is the basal
06:07 When you see the final product
06:11 90% of it is from the main oil
06:13 and 10% of it is the secret mixture of these companies
06:17 cat.