Under the agreement, GP Global will manufacture, blend, package and import Cepsa-branded lubricants into India.
Spanish oil company Cepsa Trading SA said on Wednesday it will produce and sell marine and power generation lubricants in India through a partnership with GP Global Energy Pvt Ltd, part of UAE-based GP Global (formerly called Gulf Petrochem).
GP Global will produce the marine lubricants line of Cepsa through a contract with its group company GP Petroleums Ltd, which runs a plant at Vasai in Mumbai.
Under the agreement, GP Global will manufacture, blend, package and import Cepsa-branded lubricants into India, the two companies announced at a news conference here.
Cepsa, owned by Abu Dhabi-headquartered wealth fund Mubadala Investment Co, is preparing for a listing in Spain later this year.
“This partnership will strengthen Cepsa’s international brand and the expansion of our lubricant business,” said Álvaro Díaz Bild, Vice-President, Marketing, Cepsa. “This will be the first time our lubricants will be produced outside our plants in Spain, as the facility in Mumbai has been the approved by us after a rigorous and successful audit process.
“GP Global complies with our highest standards requirements, occupies a strong position in the Indian maritime industry, and has in-depth know-how of the lubricant and bunkering businesses,” he added.
The partnership will also strengthen the in-house R&D facilities at GP Global and develop technologically advanced products in India, the companies said.
The product range includes cylinder oils, system oils, trunk piston engine oils, hydraulic oil, gear oils, greases and other specialty lubricants required by the industry here, said Carlos Giner, Director of Lubricants, Base Oils and Paraffin Waxes, Cepsa.
Cepsa’s marine products range includes Cepsa Larus, Gavia, Ciconia and Petrel lubricants. It runs two specialised lubricants plants in Spain that also produce hi-tech coolants.
GP Global operates as a physical supplier as well as provider of bunkers at ports globally. It currently supplies physical bunkers in Fujairah, Khor Fakkan, Singapore, Rotterdam and other UAE ports. It is also a top bunker supplier at all major Indian ports.