GP Petroleums to set up a new plant in India
To invest Rs. 100 crore in a new state-of-the-art plant in Saronda
GP Petroleums (GPPL) plans to invest Rs. 100 crore in a new state-of-the-art plant in Saronda, Gujarat to process over 300,000 kilo litres of lubricants, thus enabling the company to be present across the entire gamut of Indian lubes market.
This will be GPPL’s second blending plant in the country and will manufacture specialty value added products, in addition to the automotive and industrial lubricants catering to the entire value chain. Apart from the home grown IPOL brand, the plant may blend REPSOL branded automotive products as well.
Rs. 100 crore
To do what?
Process over 300,000 kilo litres of lubricants
“We at GPPL are very bullish about the growth of the Indian lubricant industry and aim to be one of its fastest growing players. The new facility will accelerate our growth engine, which will be led by the automotive segment in tier two and three towns and cities. We already have a robust partnership with over 500 distributors across India which will be strengthened further in next few years,” said Prashanth Achar, CEO at GPPL.
Sudip Shyam, Global head for Lubricants and Base Oils, GP Global Group said, “The new plant is part of our global growth strategy to produce and market 500 million litres of lubricants across the world through both organic and inorganic routes. India is a very important market for GP Global and we are confident of securing a higher market share in both automotive and industrial segments in the coming years.”