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Malaysia's Petronas to invest $150 million to boost India lubricants biz

Reuters  |  KUALA LUMPUR 

KUALA LUMPUR (Reuters) - Malaysia's state energy firm Petroliam Nasional Berhad, or Petronas, will invest $150 million in India over the next five years to strengthen its lubricants business, the company said on Thursday.The investment includes a $50 million lubricant blending plant that will be completed by the first quarter of 2018, Petronas said in a statement."We are aiming to triple our market share in India's lubricant market by 2022," CEO Wan Zulkiflee Wan Ariffin said.The Malaysian firm is keen on more collaborations in India with current and existing partners, he said, adding that ...

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First Published: Thu, August 10 2017. 14:28 IST