Fuchs Lubricants to set up manufacturing plant

MUMBAI: Fuchs Lubricants, a wholly-owned subsidiary of Fuchs Petrolub Germany, on Sunday said it is setting up a manufacturing plant in Maharashtra at an investment of $10 million for making lubricating oils, greases and specialities.

"We are investing $8-10 million in India for setting up this manufacturing base. The company has acquired 95 years' lease on a ten acre plot of land from Maharashtra Industrial Development Corporation to set up a new plant for manufacture of lubricating oils, greases and specialities in Maharashtra," Fuchs Executive Board Chairman Stefan Fuchs said in a statement.

The new plant is expected to be ready by 2009 and would be able to make 20,000 tonnes per annum of lubricants. The company has a small plant near Mumbai with an annual capacity of 5,000 tonnes per annum.

"Indian consumption of lubricants is on the rise. Increasingly India is becoming a major hub for steel and mining who need our lubricants," he said.

"Many of our European car makers have moved to India or are moving towards India. So it would help us to be here in a big way," he added.