ExxonMobil lubricant unit in Maharashtra to go on stream by end 2025

ExxonMobil Lubricant’s first greenfield project in Maharashtra is set to become operational by the end of 2025, said its CEO Vipin Rana.

ExxonMobil Lubricant’s first greenfield project in Maharashtra is set to become operational by the end of 2025, said its CEO Vipin Rana.

The ₹900 crore India lubricant oil plant will have a capacity to produce 1 million barrels annually or 159,000 kilolitres of finished lubricants to meet the growing demands for lubricants from industrial sectors, passenger and commercial vehicle segments.

“Initially, we will cater to the domestic market needs. As we expect a substantial growth in volume, the new plant will take care of requirement of India business for sometime. Besides, we have adequate land for future expansion also,” he said during an interaction.

Asserting that they have been staying ahead of the market curve in terms of volume, Mr. Rana said that they have a unique capability to compete in the market and have been leading in all the segments that they are operating.

According to him, the demand for lubricants is on the growing. India which is the third-largest lubricants market in the world is set to become the second-largest by 2050.

To a question on the fast growing Electric Vehicle segment, he said it was an ‘opportunity’ though it had less moving parts compared with the conventional Internal Combustion Engine (ICE) vehicles.

“While the industry believed that there would be a reduction in lubricants usage due to fast adoption of EVs, the ICE vehicles would continued to be produced in large numbers for long period of time,” he said adding that ExxonMobil Corporation was planning to become a leading producer of lithium. The first production would happen by 2027. It would be branded as Mobil Lithium.