Gulf Oil to invest Rs 100 cr in TN

Gulf Oil Lubricants plans to invest Rs 100 crore to set up a new manufacturing plant in Tamil Nadu.

The company has already invested Rs 44 crore for the project. Rs 35 crore has been spent to acquire land for the plant in Ennore, near Chennai, and  they will be building up the capacity there in the next two years.

Gulf Oil will start with a capacity of 42,000 KL to 50,000 KL.  An additional capex of around Rs 100 crore is also expected for the project.

The company’s ongoing expansion in its Silvassa plant in Dadra and Nagar Haveli is likely to be over by March.

Gulf Oil, which is already marketing synthetic long drain oils, for high-end diesel engines and for the motorcycle segment, sees itself increasing the synthetics and mineral-based oil business in the passenger car motor oil.

https://www.projectstoday.com/News/Gulf-Oil-to-invest-Rs-100-cr-in-TN