US’s ExxonMobil to build lubricant manufacturing plant in India

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US’s ExxonMobil to build lubricant manufacturing plant in India

US’s ExxonMobil to build lubricant manufacturing plant in India

Industry News
Apr 10,23

Texas-headquartered ExxonMobil is investing nearly INR 900 crore to build a lubricant plant in Raigad, Maharashtra. Expected to start in 2025, the new plant is expected to produce 159,000 kiloliters of finished lubricants and provide 1,200 new jobs in the country.

US’s ExxonMobil to build lubricant manufacturing plant in India

American multinational oil and gas corporation ExxonMobil is investing nearly INR 900 crore to build a lubricant manufacturing plant at the Maharashtra Industrial Development Corporation’s Isambe Industrial Area in Raigad, said the company in a recent announcement in the presence of Devendra Fadnavis, Deputy Chief Minister of Maharashtra, Uday Samant, Industry Minister of Maharashtra and other senior officials from Maharashtra.

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.

“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, ExxonMobil India.

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.

“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. We are excited about our growing role in supporting the India growth story,” said Vipin Rana, CEO, ExxonMobil Lubricants.