US-based chemical company Lubrizol Corporation has announced an investment of over US$150 million across several projects in India. The firm will set up a Chlorinated Polyvinyl Chloride (CPVC) resin plant in Vilayat, Gujarat, double capacity at its site in Dahej, Gujarat, and open a grease lab in Navi Mumbai.

The firm will collaborate with Grasim Industries Limited of the Aditya Birla Group and break ground on the first phase’of a 100,000 metric-ton state-of-the-art CPVC resin plant at Grasim’s site in Vilayat later this year. It also has plans to set up a local research and development centre, which will be its second global R&D centre after North America.

Commenting on the projects, President and CEO of  Lubrizol, Rebecca Liebert observed that India is the fastest-growing global economy with a favorable climate for business investment. “We are building on 50 years of success in India by adding new manufacturing, lab and R&D sites, supporting in-country innovation and adding jobs that capitalize on the great expanding workforce and business conditions in India, allowing us to serve needs not only in India but in surrounding countries,” she said.

Founded in 1928, the Ohio-based company operates over 100 manufacturing facilities, sales, and technical offices. The company's association in India dates back to 1966 and has expanded with a wide range of products and solutions since then. According to a press statement, Lubrizol has diversified its employee base in India, enabling 4,000 direct and indirect jobs through investment projects.

Lubrizol also plans to continue to invest in Centers of Excellence capabilities in the upcoming years to capitalize on the growth opportunity within the region.