KUALA LUMPUR (Reuters) – Malaysia’s state energy firm Petroliam Nasional Berhad, or Petronas, will invest $150 million in India over the next five years to strengthen its lubricants business, the company said on Thursday.
The investment includes a $50 million lubricant blending plant that will be completed by the first quarter of 2018, Petronas said in a statement.
“We are aiming to triple our market share in India’s lubricant market by 2022,” CEO Wan Zulkiflee Wan Ariffin said.
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