Gulf Oil to set up lube plants overseas

Hinduja group-owned Gulf Oil Corporation (GOCL) is planning to set up lube oil blending plants in Indonesia and China with an initial investment of $ 5 million.

In Indonesia, the company already has marketing network. The proposed lube oil and grease manufacturing unit in Indonesia will be completed in one year, sources said.

N C Sekhran, head, Lubes, told Business Standard, "For the Indonesian plant, GOCL has tied up with Tharapur Grease (TG) to form a 75:25 joint venture company"" Gulf Oil Lubricants Indonesia."

The lube plant in China is a 100 per cent venture of Gulf Oil companies.

The construction of the plant has commenced in January this year at Yantai and it will be completed by the end of 2006.

The plant will have a production capacity of 40,000 kilo liter lube per annum.