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Tuesday, Feb 10, 2004

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Gulf Oil plans Rs 5-cr expansion

Our Bureau

Hyderabad , Feb. 9

GULF Oil Corporation Ltd (GOCL), a part of Gulf Oil International, engaged in the business of lubricants, has initiated a Rs 5-crore expansion project at its plant in Silvassa in Gujarat.

Under the proposed expansion, the company plans construction of a 35,000-sq ft concrete floor, installation of plastic moulding machine and other automatic filling machines. Civil works for the project have already started and the expansion project will be completed by July.

The company will also increase the number of its distributors from 450 to 700 by March 2005 and to 1,600 in the next two years.

In a press release here on Monday, Mr V. Ramesh Rao, Executive Director of GOCL, stated in spite of stagnant outlook for the lubricant industry, the company' sales have grown by over 10 per cent in the last six months.

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