Gulf Oil Lubricants India Ltd. said it is nearing completion of an expansion at its 75,000 tons per year lubricant blending plant in Silvassa, India. The project, which will increase the capacity to 95,000 t/y, is scheduled to wrap up in January.
The price tag for the expansion is Rs 4 crore (Rs 40 million, or U.S. $650,000).
The Silvassa facility, located near Mumbai, is currently Gulfs only blending plant, but the company plans to build a second, in the industrial region around the southern city of Chennai. The company said it will soon begin construction of that project, which will cost Rs 125 crore. Gulf is targeting a 2016 opening date for that plant.
Officials said previously that the Chennai plant would be built to produce industrial lubricants marketed toward industry in that region. Gulfs business currently concentrates on automotive lubricants, but management sees opportunity for significant growth in the industrial segment.