Agency
New Delhi: Exxon Mobil said it is investing nearly INR 900 crore (USD $110 million) to build a lubricant manufacturing plant at the Maharashtra Industrial Development Corporation’s Is am be Industrial Area in Raigad. The company signed a Memorandum of Understanding (MoU) with the Government of Maharashtra in the presence of Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnav is and senior officials from the state.
Once operational, the plant will have the capacity to potentially manufacture 159,000 kiloliters of finished lubricants annually 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. It is expected to begin operations by the end of 2025. 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. ExxonMobil is a global leader in lubrication technology, providing energy efficiency, productivity, and sustainability to India. Vipin Rana, CEO, ExxonMobil Lubricants Pvt. Ltd. said “We are excited about our growing role in supporting the India growth story”.
