Lubrizol Corporation, a global speciality chemicals company, plans to invest about $200 million (about ₹1,680 crore) to set up a manufacturing facility in Aurangabad.
The company has signed a memorandum of understanding to buy 120 acres for the plant and plans to initially cater to the region’s growing transportation and industrial fluid markets.
The commencement of manufacturing at the site is expected to coincide with Lubrizol’s 100th anniversary in 2028.
The plant is expected to become the company’s second-largest manufacturing facility globally and largest in India.
Flavio Kliger, President, Lubrizol Additives, said the new facility will enhance the company’s local capacity for the additives business and support other Lubrizol businesses across regions.
Last year, Lubrizol had announced an investment of $150 million towards the construction of a CPVC resin plant in Vilayat, Gujarat, with double the capacity of its Dahej unit, the opening a grease lab in Navi Mumbai, and additional local hiring and innovation.
This year the company opened its first global capability centre in Pune in a bid to accelerate its growth in the region and enable closer collaboration for customers and employees.
Bhavana Bindra, Managing Director, Lubrizol (India, Middle East and Africa), said the company understands the importance of a local-for-local approach, from India-based manufacturing to in-region innovation to continued investment in local talent.
Nitin Mengi, Vice President, Lubrizol Additives (IMEA), and Chairman and Managing Director, Lubrizol India, said the growing transportation and industrial markets in India represent a tremendous opportunity and the company is thrilled to be a part of the bright future of these industries.