ExxonMobil's Latest Investment: India Lubricants Plant Upgrade to Boost Local Economy

ExxonMobil has announced a major greenfield investment in India, reaffirming its commitment to the country's growing manufacturing sector. The new lubricant plant, located in Maharashtra's Isambe industrial area in Raigad, is set to produce up to 159 million liters of high-quality lubricants every year, making it a key supplier to a range of industries, including manufacturing, steel, power, mining, construction, and the automotive sector.

Monte Dobson, lead country manager for ExxonMobil affiliates in India, expressed the company's pride in deepening its longstanding commitment to India with this significant investment. Maharashtra's position as one of India's largest manufacturing hubs made it a natural choice for the plant's location, thanks to its attractive investment environment and access to a highly skilled workforce.

The plant's emphasis on sourcing base stocks and additives from local Indian businesses is set to provide a much-needed boost to the domestic supply chain, creating jobs and fostering the development of local suppliers. Moreover, the plant's focus on sustainability and responsible production practices will make it a model for sustainable development in India, showcasing ExxonMobil's commitment to building a more prosperous and equitable future for all Indians.

Vipin Rana, CEO of ExxonMobil Lubricants Private, emphasized that the new plant marks a "step change" for the company, enabling it to serve the needs of Indian customers and consumers more readily while bolstering its position as one of India's leading lubricant providers.

Overall, ExxonMobil's investment in Raigad is a testament to the company's long-standing commitment to India, as well as its vision of a more sustainable, self-sufficient future for the country. As demand for lubricants continues to accelerate in India, the new plant will be at the forefront of the market, harnessing the latest lubricant technology to provide Indian customers with the highest-quality products and services available.