Petronas sets up $50 mn lubricant blending plant in India

The plant has been constructed on 25 acres of industrial land at Patalganga MIDC

Petronas Lubricants International has launched a $50 million state-of-the-art lubricant blending plant in Maharashtra Industrial Development Corporation (MIDC), Patalganga.

The new plant – constructed on 25 acres of industrial land at Patalganga MIDC – with an estimated production output of 110 million litres of lubricants, is expected to commence operations by end 2017.  

The plant, Petronas said, will help propel its position as a formidable lubricants player in India.
      

“PLI has very aggressive ambitions to be amongst the world’s top lubricants player by 2019. India is without exception a very important market for us here in the Asia region and we are confident of the potential ahead of us. Therefore, we have embarked on a solid growth plan to accelerate our business here in India, starting with investments into the new plant that is equipped with world class lubricants blending facilities and equipment, highly automated production line, and increased storage tanks,” said Giuseppe Pedretti, PLI Regional Head of Asia.

 
Since its inception in 2006, PLIPL has recorded steady volume growths at 40% CAGR and is aiming to capture 5% total market share by 2019. “In India, the growing economy and emerging middle class will continue to contribute to a robust automotive market growth," said  M P Singh, PLIPL CEO.

With a market size of 2.5 billion litres and lubricants demand projected to grow at 2.3% CAGR, India is the world’s 3rd largest lubricant market behind USA and China.