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The Sharjah-based Universal Lubricant Group has evinced interest in the development of Azhikkal Port in Kannur. The company has earmarked Rs 150 crore towards developing the port into a modern facility.
Karimpuzha Raman, Director, said the Universal Group is the leading manufacturer of lubricants and one of the largest traders of base oil in the world.
The company, he said, is looking at handling cargoes such as plywood, lubricants and base oil from the proposed facility at Azhikkal.
“We are yet to make a detailed plan before the Government in this regard. However, the company has already sent its investment proposals to the Government and also participated in the recently concluded Emerging Kerala investor meet, showing interest in taking up the project under PPP mode,” he said.
He said the company proposes to develop the facility at Azhikkal in two phases. Phase-I will involve an investment of Rs 75-80 crore, which can be completed in three years. Once developed, the company could generate ample job opportunities in the region both direct and indirect, he added.
Universal Lubricants, which had received several global awards, has got storage terminals and manufacturing facilities in all the major ports of the Gulf countries and in Singapore and in Malaysia. Exports of base oil and oil lubricants can also be carried out from Azhikkal once it is developed as a full-fledged port.
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