ExxonMobil, the oil and natural gas conglomerate, is investing Rs 900 crore (US$110 million), to build a lubricant manufacturing plant in Raigad. Plans to establish this plant at the Maharashtra Industrial Development Corporation’s Isambe Industrial Area were made in the presence of Deputy Chief Minister Devendra Fadnavis, Industry Minister Uday Samant, and senior officials from Maharashtra.

The plant which is expected to begin operations by 2025, will have the capacity to potentially manufacture 159,000 kiloliters of finished lubricants annually. The aim is to meet growing domestic demand from industrial sectors such as manufacturing, steel, power, mining, and construction, as well as from passenger and commercial vehicle segments.

In a significant boost to the “Make in India” initiative, the plant will source a larger part of the base stocks, additives, and all packaging locally. It is expected to create nearly 1,200 jobs during the construction phase.

“We are proud to deepen our longstanding commitment to India with our first greenfield investment. Maharashtra is amongst India’s largest manufacturing hubs and a natural choice for our lubricant plant thanks to its attractive investment environment,” said Monte Dobson, lead country manager for ExxonMobil affiliates in India.

“This is a step change towards bolstering our position as one of India’s leading providers of high-performance lubricants. Manufacturing locally will simplify our supply chain, enabling us to serve the needs of our Indian customers and consumers more readily", Vipin Rana, CEO, ExxonMobil Lubricants, added.