Warren Buffett's Lubrizol starts its Dahej plant

AHMEDABAD: US-based Lubrizol Corporation, a wholly-owned subsidiary of billionaire Warren Buffett's Berkshire Hathway, has commissioned its new chlorinated polyvinyl chloride (CPVC) compounding plant in Dahej, which is the company's first major investment in India.
The company has invested Rs 325 crore in the plant and it will have the capacity to produce 55,000 metric tonnes (MT) of compounds annually.
This plant is a part of Lubrizol's global expansion plan which was announced in year 2013 with an investment of Rs 1300 crore. Dahej plant is Lubrizol's third facility in India and first major investment.
The size of CPVC market in India is around 90,000 metric tonnes per annum. The company will use Dahej facility for exports in South Asia and African markets in the near future.
"The site's prime location positions the company to serve not only the growing Indian market, but to also support the emerging growth of its businesses in South Asia, the Middle East and East Africa," Eric Schnur, president, Lubrizol Advanced Materials.
Lubrizol is also planning to set up Rs 750 crore resin plant in Dahej in two years and the location of the plant will be decide depending on the growth in demand.
"With global economy conditions not so good, the second phase of our expansion has been pushed back by a year or two. We are planning more investments when the market conditions improve," he added
An opening ceremony to commemorate the beginning of plant operations at the Dahej site was held today morning.