Petronas invests in lubricant blending plant in India
Petronas Lubricants International (PLI) is building a lubricant blending plant in Patalganga, which is located on the outskirts of Mumbai, in the Indian state of Maharashtra. Situated on 25 acres of land, the lubricant blending plant has an annual production capacity of 110 million litres. Investment in the lubricant blending plant is USD 50 million. The lubricant blending plant is expected to become operational by the end of 2017.
With a market size of 2.5 billion litres, lubricant demand in India is projected to grow at a compounded annual growth rate (CAGR) of 2.3%. India is the third largest lubricant market in the world.
“We have embarked on a solid growth plan to accelerate our business here, starting with investments into a 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.
“We have also embarked on a new route to market approach that will see us transform the way we do business with our distributors and retailers,” Pedretti added.