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Lubrizol Corporation, a global specialty chemicals company, is set to invest approximately $200 million (about ?1,680 crore) to establish a new manufacturing facility in Aurangabad. The company has signed a memorandum of understanding to acquire 120 acres for the plant, which will initially focus on serving the regions expanding transportation and industrial fluid markets.
The facilitys opening is planned to coincide with Lubrizols 100th anniversary in 2028, making it the companys second-largest manufacturing site globally and the largest in India. Flavio Kliger, President of Lubrizol Additives, stated that the new plant will boost the companys local capacity for the additives business and support other Lubrizol operations in various regions.
Last year, Lubrizol announced a $150 million investment in constructing a CPVC resin plant in Vilayat, Gujarat, doubling the capacity of its existing Dahej unit. The company also opened a grease lab in Navi Mumbai and made additional hires and innovations locally.
In 2023, Lubrizol launched its first global capability center in Pune to accelerate regional growth and facilitate closer collaboration with customers and employees. Bhavana Bindra, Managing Director of Lubrizol (India, Middle East, and Africa), emphasized the importance of a "local-for-local" approach, including India-based manufacturing, regional innovation, and investment in local talent.
Nitin Mengi, Vice President of Lubrizol Additives (IMEA) and Chairman and Managing Director of Lubrizol India, highlighted the significant opportunities in Indias growing transportation and industrial markets, expressing the companys excitement about contributing to the bright future of these industries. |
