GP Petroleums, a part of UAE-based GP Global group has announced 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 enhance presence across the entire range of the lubes market in India.
This will be GP Petroleums' 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.
Prashanth Achar, CEO at GP Petroleums said, “We at GP Petroleum 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.”
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."
GP Petroleums' brands IPOL and REPSOL cover all the available segments of motorcycle oils, diesel engine oils, car oils and specialty oils across different price range.
The company currently operates ISO 9001: 2015, EMS 14001:2015 and ISO 45001:2018 certified plant in Vasai near Mumbai with an annual capacity of 80,000 metric tonnes and a storage facility of 15000 metric tonnes, one of the largest in India.