Kolkata, July 27 (IANS) Gulf Oil Lubricants will focus on passenger automotive segment and plans to invest Rs 150 crore in its new plant in Chennai, a top company official said on Wednesday.
“We are aiming a strong growth in India and putting up our second greenfield plant at Chennai at a cost of Rs 150 crore to augment the capacity in the next 18 months to 1.35-1.40 lakh MT capacity,” said Managing Director Ravi Chawla.
The company had ramped up its first plant at Silvassa from 75,000 MT to 90,000 MT with a capital expenditure of Rs 40-45 crore.
Chawla said the lubricant company focused on the passenger automotive segment where its market share is only 4.5 per cent.
“Our focus is on passenger car segment. Our present market share is 4.5 percent. We were able to grow at 12-13 percent in the last one year but we are aiming to double the growth from the present levels in car segment,” he said.
According to Chawla, the company is trying to increase its share to 9-10 per cent from 7 per cent from the open market sales segment.