Gulf Oil to invest Rs 120-cr to set up lubricant plant in Chennai

Gulf Oil Lubricants India Limited, a Hinduja group company, is reportedly planning to invest Rs 120 crore to set up a 75,000-KL capacity plant in Chennai. In addition, it is increasing the capacity of its existing plant at Silvassa in Dadra and Nager Haveli from 75,000 KL to 90,000 KL.Gulf Oil Lubricants, the lubricant division of Hyderabad-based Gulf Oil Corporation Limited (GOCL), had registered a revenue of Rs 1,017 crore in 2013-14.
 
According to Sanjay G Hinduja, Chairman, Gulf Oil International, and Ravi Chawla, Managing Director, Gulf Oil Lubricants India, the lubricant business has reached the size and scale to take up its future in a more focused manner independently. Hence, Gulf Oil Lubricantswill manage the standalone lubricant business in India under Gulf Oil brand.
 
They said that all business segments of GOCL have been managed as separate business segments and operations of the lubricants business does not affect in any way on account of the demerger.