GP Petroleums, a subsidiary of the Gulf Petrochem Group, has announced its strategic partnership with Repsol of Spain.
17 Jun 2015 | 7321 Views | By Takshak Dawda
GP Petroleums, a subsidiary of the Gulf Petrochem Group, has announced its strategic partnership with Repsol of Spain. The tie-up will enable it to exclusively manufacture and market Repsol’s superior and comprehensive line of premium quality lubricants including premium motor oils such as MOTO 4, Repsol Elite, Repsol Diesel in ...
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GP Petroleums, a subsidiary of the Gulf Petrochem Group, has announced its strategic partnership with Repsol of Spain. The tie-up will enable it to exclusively manufacture and market Repsol’s superior and comprehensive line of premium quality lubricants including premium motor oils such as MOTO 4, Repsol Elite, Repsol Diesel in India. The product launch is planned for September this year.
The company plans to market high-end lubricants for commercial vehicles under the Repsol brand.
GP Petroleums, which acquired Sah Petroleum eight months ago, currently markets the IPOL brand in the industrial lubes market. GP Petroleums is planning to set up new plants in Pipavav (Gujarat) and Kosi (Bihar) with an estimated investment of over Rs 100 crore.
“We are delighted to announce the tie-up with Repsol. With the economy showing recovery, the lubricant segment is expected to witness growth in future. With the changing engine technology, Repsol lubricants which is focused on innovation is the answer to today’s consumer needs,” said Sudhir Goyel, managing director, Gulf Petrochem Group.”
“We see the Indian market to have great potential. India will be a very important market for us and this tie-up will help us expand our footprint in this ever growing economy. Partnering with GP Petroleums has given us a first-hand advantage in this sector,” said Orlando Carbo, Lubricants Director, Repsol.
GP Petroleums says it has well equipped manufacturing facilities with a hi-tech blending facility, quality-control test labs and automated filling and packaging stations. The group’s in-house base oil storage facility of 17,000 KL is one of the largest in the Indian industry and the company has an annual production capacity of 80,000 KL.
India currently is the world’s third largest lubricant market and accounts for approximately 20 million tonnes per annum. Of this, 58 percent is consumed by the automotive segment. The lubes market is growing at a moderate pace of 2.5 percent but the automotive consumer market is expected to grow at around 6.6 percent.