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A subsidiary of India-based Apar industries, involved in the wholesale distribution of petroleum products, plans to set up a manufacturing unit at the UAE's free zone in Sharjah.
Singapore-based Petroleum Specialties (PSPL), a fully-owned subsidiary of Apar Industries Limited, signed an agreement with Sheikh Khalid bin Abdullah bin Sultan Al Qasimi, Chairman of Hamriyah Free Zone Authority (HFZA) yesterday.
Apar Industries Limited is the largest manufacturer of transformer oil, white oils, rubber process oils and lubricants (industrial & automotive) in India.
Gulf region and Africa accounts for a significantly large portion of Apar's export revenues.
"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.
Hamriyah Free Zone houses 6,000 companies from across 155 nations, and has foreign investment from over 500 industries in the key sectors of oil & gas, petrochemicals, maritime, steel, construction, and food.