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Corporations/ Associations/ Others | Bihar - India | PID: 203331
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The Lubrizol Corporation has signed a memorandum of understanding (MoU) to purchase a 120-acre plot in Aurangabad, where it plans to construct a new manufacturing facility to initially support the growing transportation and industrial fluid markets in India. The initial phase of the project represents a projected investment of approx. USD 200 million, the company’s largest ever in India, while also building on a previously committed investment in the region.
The plant is slated to be the company’s second-largest manufacturing facility globally and its largest manufacturing facility in India when completed. Construction will progress in phases over the next several years. It will allow it to enhance its local capacity and capabilities for its additives business with the potential to support other Lubrizol businesses and regions in the future. Besides, this site will enable export opportunity to surrounding countries and to other Lubrizol sites. Commencement of manufacturing at the site is expected to coincide with Lubrizol’s 100th anniversary in 2028
In 2023, Lubrizol announced its most significant investment in the region in the form of a USD 150 million pledge, and it supports the construction of the world’s largest CPVC resin plant in Vilayat, Gujarat, the doubling of capacity at Lubrizol’s site in Dahej, Gujarat, the opening of a grease lab in Navi Mumbai and additional in-country job growth and innovation. In addition, this year the company opened its first Global Capability Centre (GCC) in Pune as a strategic hub to accelerate its growth in the region and enable closer collaboration for customers and employees.
| Updated on: 30 - Aug - 2024
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