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Monday, October 9, 2017VOLUME 13 ISSUE 41
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GP Petroleums to Build New 100,000 klpa Lubricant Plant in Gujarat

Mumbai, India-based GP Petroleums Ltd's parent company, the United Arab Emirates-based GP Global Group, announced that the Company plans to set up a new green field lubricant blending plant on a 11 acre company owned freehold land situated at Umbergaon Taluka in Valsad District of Gujarat State, India, north of Mumbai. The estimated capacity of the plant will be 100,000 KL, or approximately 88,000 tons, annually.

GP Petroleums also said that it will discontinue production and sales from its Daman plant on the western coast of India and for now shift same to its Vasai plant, north of Mumbai in the Maharashtra state of India, where sufficient unutilized capacity is available.

GP Petroleums said that the central sales tax exemption available for production and sales from Daman has been discontinued after implementation of Goods and Services Tax system with effect from 1 July 2017. Further, the lease period of the Daman plant will expire on 15 December 2017.

The new Gujarat plant will eventually replace the combined production capacity of the company’s Vasai and Daman plants, approximately 70,000 tons per year. GP will spend around Rs 100 crore (US$15 million) over the next two years to set up the new plant.

The company also blends Spain's Repsol branded oils. In 2014, GP Petroleums signed an agreement with Repsol, to blend and market the Repsol brand in India.

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