GP Petroleums Ltd. (GPPL), a leading lubricant maker in India and part of the UAE-based GP Global group, continues to scout for acquisitions in the south to augment its capacity, said a top official.
“Recently, we made a bid to acquire a firm that failed,” said Hari Prakash M., CEO, GP Petroleums Ltd. “Still, we are on the lookout for acquiring firms in the south as we already have two units in the west.”
Currently, GPPL has two manufacturing facilities to produce Repsol and IPOL lubricants in Mumbai and Daman with an annual production capacity of 80,000 kilo litres. GPPL now produces close to 60,000 kilo litres and can reach 80,000 litres over two shifts, Mr. Prakash said.
‘₹70 cr. investment’
“We also have permission to set up a greenfield plant for which we have the board approval to invest up to ₹70 crore. It would take, probably, two to three years.
“But we have deferred the project as space is a constraint in Mumbai. Hence, we are looking for acquiring existing plants,” he said.
