GP Petroleums Ltd to invest Rs 100 cr in Gujarat

Ahmedadad: GP Petroleums Ltd (GPPL), an automotive and industrial lubricants player in India, part of UAE-based GP Global Group, plans to invest Rs. 100 crore in a new state-of-the-art plant in Saronda, Gujarat.
The plant would process over 300,000 kilo litres of lubricants, thus enabling the company to be present across the entire gamut of Indian lubes market. This will be GPPL’s second blending plant in India. Apart from the home grown IPOL brand, the plant may blend REPSOL branded automotive products as well, the company said in a statement.

Global head for Lubricants and Base Oils at GP Global Group Sudip Shyam said the new plant is part of the company’s global growth strategy to produce and market 500 million litres of lubricants across the world through both organic and inorganic routes.

“The new facility will accelerate our growth engine, which will be led by the automotive segment in tier two and three towns and cities. We already have a robust partnership with over 500 distributors across India which will be strengthened further in next few years,” GPPL CEO Prashanth Achar said.

“India is a very important market for GP Global and we are confident of securing a higher market share in both automotive and industrial segments in the coming years,” Shyam added.