Gulf Oil to build second lube plant in South India

Gulf Oil Corp. Ltd. said it plans to build a second lubricants plant in South India at a cost of Rs 150 crore (US$33.4 million). “We are looking at the next phase of growth with lubricants playing a larger role,” says Gulf Oil Managing Director Subhas Pramanik. Pramanik also says that the company’s co-branding efforts with Ashok Leyland and Mahindra & Mahindra are yielding good results. “We see co-branding as a growth opportunity. The marketing spend of Rs 33 crore (US$7.35 million) for financial year 2011 and our partnership with the IPL cricket teams of Punjab and Chennai had a positive impact on the lubricants business,” he says. (June 17,2011)