ExxonMobil to invest Rs 900 cr in ‘Maha’ upcoming lube plant

MUMBAI: ExxonMobil on Friday said it is investing nearly Rs 900 crore ($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.

The plant is expected to create nearly 1,200 jobs during the construction phase.