Winning Bizness Desk
Mumbai. An investment of around INR 900 crore (USD $110 million) will be made to set up a lubricants manufacturing plant at Maharashtra Industrial Development Corporation's Isambe Industrial Area in Raigad. ExxonMobil will make this investment through this company. The company made the announcement on Tuesday in the presence of Deputy Chief Minister Devendra Fadnavis, Industries Minister Uday Samant and senior officials of Maharashtra. The plant will have the capacity to produce 159,000 kiloliters of lubricants annually to meet the growing domestic demand in industrial sectors such as manufacturing, steel, power, mining and construction, as well as passenger and commercial vehicle segments. It is expected to be operational by the end of 2025.
Around 1200 jobs are expected to be created
With an attractive investment climate, Maharashtra is India's largest manufacturing hub and a natural fit for our lubricants plant, said Monte Dobson, Head Country Manager, ExxonMobil's Affiliates in India. To give a significant boost to the “Make in India” initiative, the plant will provide base stock, additives and bulk of all packaging locally. Around 1200 jobs are expected to be created during the construction phase. "This is a transformative and important step towards strengthening our position as one of the high-performance lubricants suppliers in India," the company said. Manufacturing locally will simplify our supply chain, allowing us to more easily meet the needs of our Indian customers and consumers. We are excited about our growing role in supporting India's expansion story,” said ExxonMobil Lubricants Pvt. Ltd. CEO Vipin Rana said.
A major supplier of LNG to India
As the world's leading brand in lubricants technology, ExxonMobil's Mobil-branded engine oils, greases and lubricants products have been enhancing energy efficiency, productivity and sustainability for India's automotive and industrial sectors for years. The company is also a major supplier of LNG to India. Other chemical products of the company are widely used in Indian manufacturing. ExxonMobil has been operating in India for the past three decades. The company brought India's first supply of liquefied natural gas (LNG) in the early 2000s and is now a major LNG supplier to the country, helping to further its transition to a gas-based economy.
