Exxon Mobil announced that it is investing about Rs 900 crore (USD 110 million) to build a lubricants manufacturing plant at the Maharashtra Industrial Development Corporation’s Isambe Industrial Area in Raigad.
The company signed a memorandum of understanding (MoU) with the Maharashtra government in the presence of Chief Minister Eknath Shinde, Deputy Chief Minister DevendraFadnavis and senior state officials. Once operational, the plant will have the capacity to potentially manufacture 159,000 kiloliters of finished lubricants annually to meet growing domestic demand from industrial sectors such as manufacturing, steel, energy, mining and construction, as well as commercial and passenger vehicle segments. It is expected to be operational by the end of 2025.
