Indian arm of Malaysia’s Petronas to invest $100 mn.

Move is aimed at garnering 5% share of lubricants market

Petronas Lubricants International (PLI), a subsidiary of Malaysian energy giant Petronas, is planning three-fold increase in its investment to $100 million (₹650 crore) in a bid to garner 5% share of the competitive lubricants market in India dominated by Indian oil PSUs and global players.

The Kuala Lumpur-based firm had already invested $50 million (₹325 crore) in a lubricant blending plant at Patalganga in Maharashtra which was expected to commence operations by first quarter of 2018.

“The investments of $100 million will be over and above $50 million already invested in the Indian market, Giuseppe D’Arrigo, managing director and chief executive officer, PLI told

The Hindu. “India has huge potential and is important market for us besides China,” he added.

PLI, with operations in more than 100 countries and ranked among top 10 global players, plans to add a satellite R&T (research and technology) centre to its Patalganga Plant that focuses on motorcycle lubricants.

Work on PLI’s £40 million global research centre in Turin, Italy will be completed by end of this year. The centre will provide for technological and technical requirements of PLI business globally.

Mr. Giuseppe was in India to unveil Petronas Sprinta with Ultraflex, its flagship range of lubricants formulated to resist engine stress and promote longer life for bikes.

Petronas Sprinta lubricants will be made available globally in phases from March 30, 2017, according to a company statement.