Lubrizol Company, which is into specialty chemical substances, has signed a Memorandum of Understanding with the Authorities of Maharashtra to buy a 120-acre plot in Aurangabad to assemble a brand new manufacturing facility to help the area’s rising transportation and industrial fluid markets.
Within the preliminary section, the corporate mentioned it could make investments $200 million, its largest ever in India. “The plant will develop into the corporate’s second-largest manufacturing facility globally and its largest manufacturing facility in India when accomplished. Development will progress in phases over the following a number of years with room for future enlargement,” the corporate mentioned in a press release.
“Lubrizol has made significant investments in India for greater than 5 many years,” mentioned Flavio Kliger, President, Lubrizol Components. “This new state-of-the-art manufacturing facility will permit us to boost our native capability and capabilities for our Components enterprise with the potential to help different Lubrizol companies and areas sooner or later.”
Along with supporting demand for India, this website will allow export alternative to surrounding international locations and to different Lubrizol websites. Graduation of producing on the website is anticipated to coincide with Lubrizol’s one centesimal anniversary in 2028.
