Apar Industries, 4th largest manufacturer of transformer oils

Apar Industries, 4th largest manufacturer of  transformer oils in the world  to  set up manufacturing unit at Hamriyah Free Zone
 
SHARJAH - Singapore-based Petroleum Specialties Pte. Ltd (PSPL), a fully-owned subsidiary of the world renowned Apar Industries Limited, has announced that it will set up a manufacturing unit at Hamriyah Free Zone Authority (HFZA).

The group signed an agreement  on Tuesday 18, November  with  His Excellency Sheikh Khalid bin Abdullah bin Sultan Al Qasimi, Chairman of Hamriyah Free Zone Authority (HFZA), Sharjah Airport International Free Zone (SAIF ZONE) and the Sharjah Sea Ports and Customs Department.

Mr. Kushal N. Desai, Managing Director of Apar Industries represented the  Apar Industries Limited.

Mr Saud Al Mazrouei, Director of HFZA & SAIF ZONE; Mr Sanjay Abhyankar, Senior Vice President of Apar Industries and project manager for HFZA project; ShirishPatwardhan, Executive Director, Rchemie International FZC; SanjitGhate, Director of Operations, Rcheme International FZC and other top officials were present at the signing ceremony that took place at SAIF ZONE.

Apar Industries Limited is the largest manufacturer of transformer oil, white oils, rubber process oils and lubricants (industrial & automotive) in India.GCC and Africa accounts for a significantly large portion of Apar’s export revenues. The group has a US$ 850 million diversified company offering value added products and services in power transmission conductors, petroleum specialties and power cables. The group accounts for about 50% of the Indian transformer oils market and about 22% of its aluminium conductor market.

“Our goal is creating a robust business environment by meeting the needs and demands of our investors,”  said Saud Salim Al Mazrouei while welcoming  the 4th largest manufacturer of  transformer oils in the world  to HFZA.

 “We are keen to set up a manufacturing unit at HFZA which can cater to the African/MENA market and help in expanding our  reach to  the  CIS countries,” said Kushal Desai, Managing Director of Apar Industries.

“We will set up this manufacturing facility through our Singapore based subsidiary Petroleum Specialties Pte Ltd,” he added. While asked about the investment, he said “the project is huge and still on the drawing board. Once detailed engineering is done we will be able to furnish further information about the project cost, working capital etc.”
 
“HFZA has extended extensive support to us and PSPL has been awarded 30,000 square meters of land in HFZA to develop the facility and we plan to complete the project by December 2015” said Sanjay Abhyankar, Senior Vice President of Apar Industries and project manager for HFZA project.
 
“We are moving to HFZA due to its strategic location and as per the recommendation of our business associates Rchemie International FZC which already has a base in HFZA” he said.
While evaluating their current market presence in the Africa/MENA, Abhyankar said, Apar Industries Limited has decent market and sales in Africa including MENA and PSPL has strengthened the business of its customers through proactive product development.

“Currently Apar Industries, which is listed on the Bombay Stock Exchange (BSE), exports specialty oils to more than 70 countries.” Abhyankar explained.
Hamriyah Free Zone houses 6000 companies from across 155 nations, welcoming foreign investment from more than 500 industries in the key sectors of oil & gas, petrochemicals, maritime, steel, construction, and food.