The Lubrizol Corporation will invest over USD 150 million (about Rs 1,200 crore) in different projects across India.
The investment will be made towards the setting up of a chlorinated polyvinyl chloride (CPVC) resin plant in Vilayat, doubling the capacity at its site in Dahej in Gujarat and opening a grease lab in Navi Mumbai. These projects have the potential to create 4,000 direct and indirect employment opportunities.
Lubrizol and Grasim Industries will jointly break ground on the first phase of the one-lakh-tonne CPVC plant during this year, which would earn it the reputation of being the largest single-site capacity for CPVC resin production globally. The products are planned to be sold under Lubrizol’s 'FlowGuard Plus', 'Corzan' and 'BlazeMaster' brands.
Furthermore, the specialty chemicals maker, which is firm on doubling its existing CPVC compound capacity at Dahej from the existing 70,000 tonne to 1.40 lakh tonne, also plans to serve the neighbouring markets like Nepal, Bangladesh and Indonesia with the expanded capacity.
Lubrizol is also planning to set up a local research and development (R&D) centre, as its second global R&D centre after North America.
India is among largest consumers of CPVC, with applications in plumbing pipe and fittings, and further, increasing requirements for clean water in residential and commercial structures are expected to drive growth in the sector.
