Gulf Oil Lubricants to Set Up New Production Facility in India
India: Gulf Oil Lubricants, which
is a part of Hinduja Group, is in process of starting the production of
lubricants in Ennore, Chennai by the end of second quarter in 2017. The
construction of the lubricants plant has already been started and is expected
to complete by the end of second quarter in 2017. The company is expected to
commence production at its new facility by the third quarter of 2017. The
company already has a production facility for lubricants located at Silvassa,
with an annual production capacity of 90,000 kilo litre (KL). The second manufacturing facility of the company
is expected to have a production capacity of around 40,000-50,000 kilo
litre (KL) per annum.
TechSci Research depicts that setup of new facility in
Chennai would help Gulf Oil Lubricants to strengthen their position in South
India and cater to the growing demand for lubricants from the expanding
automotive industry in Chennai, which has emerged as an automotive hub in India.
This move would further help the company to increase its market presence and
customers in the Southern India.
According to TechSci
Research Report “Global
Specialty Lubricants Market By Type, By End Use, By Region Competition
Forecast and Opportunities, 2011 – 2025”, the global
specialty lubricants market is anticipated to cross $ 81 Billion by the end of
2025. Growing industrialization and expected revival of crude oil prices are
expected to influence the demand for specialty lubricants across the world
during 2016-2025. Moreover, improving economic scenario, widening base of
small and mid-cap industries and growing adoption of advanced machineries
are anticipated to positively influence the global specialty lubricants
market during forecast period.