Gulf Oil expansion plans

India’s third largest blended lubricant manufacturer, has firmed up plans for two construction projects in Bangalore and Hyderabad and it is eying a couple of mining projects as well this year.

The 100-acre knowledge city in Hyderabad will need an investment of Rs 800 crore. It will be used for the company’s in-house R&D work on robotics for the explosives division and research for the speciality chemicals division. The construction cost of the Bangalore IT and IT enabled services hub, covering 40 acres, is estimated at around Rs 1,000 crore.

Reportedly, the company also plans to invest around Rs 400 crore in two mining projects that it hopes to bag during this fiscal.

The report indicated that the long-term plan of the company is to strengthen the four verticals and hive them off into separate entities