OILS & LUBRICANTS strategy to accelerate the transition to a net-zero emissions energy business by 2050 .
ExxonMobil invests big in India
ExxonMobil recently announced that it is investing nearly INR 900 crore ( US $ 110 million ) to build a lubricant manufacturing plant at the Maharashtra Industrial Development Corporation ’ s Isambe Industrial Area in Raigad . The company made the announcement in the presence of Deputy Chief Minister Devendra Fadnavis , Industry Minister Uday Samant and senior officials from Maharashtra . Once operational , the plant will have the capacity to potentially manufacture 159,000 kilolitres 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 for ExxonMobil affiliates in 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 Pvt Ltd .
A global leader in lubrication technology , ExxonMobil says its extensive range of Mobilbranded engine oils , greases and lubricants has been advancing energy efficiency , productivity , and sustainability for India ’ s automotive and industrial sectors for decades . The company is also a major supplier of liquefied natural gas to India and its chemical products are widely used in Indian manufacturing .
An all-rounder - Phillips 66 ® Guardol ECT
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ExxonMobil recently announced that it is investing nearly $ 110 million to build a lubricant manufacturing plant at the Maharashtra Industrial Development Corporation ’ s Isambe Industrial Area in Raigad
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JULY 2023 | International Mining