Apar Industries to set up transformer oil manufacturing unit at Hamriyah Free Zone

Updated 20 November 2014
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Apar Industries to set up transformer oil manufacturing unit at Hamriyah Free Zone

Singapore-based Petroleum Specialties Pte. Ltd (PSPL), a fully-owned subsidiary of the world renowned Apar Industries Ltd., is tset up a manufacturing unit at Hamriyah Free Zone Authority (HFZA).
The group signed an agreement with 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.
Kushal N. Desai, managing director of Apar Industries represented the Apar Industries Ltd.
Saud Al-Mazrouei, director of HFZA & SAIF ZONE; Sanjay Abhyankar, senior vice president of Apar Industries and project manager for HFZA project; Shirish Patwardhan, executive director, Rchemie International FZC; Sanjit Ghate, director of operations, Rcheme International FZC and other top officials were present at the signing ceremony that took place at SAIF ZONE.
Apar Industries Ltd. is the largest manufacturer of transformer oil, white oils, rubber process oils and lubricants (industrial & automotive) in India. 
The GCC and Africa accounts for a significantly large portion of Apar’s export revenues. 
The group has a $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 percent of the Indian transformer oils market and about 22 percent of its aluminum conductor market. 
 “Our goal to create a robust business environment by meeting the needs and demands of our investors,” Saud Salim Al-Mazrouei said, 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. 
When 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.”
Abhyankar said: “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."
He said: "“We are moving to HFZA due to its strategic location and as per the recommendation of our business associates Rchemie International FZC that already has a base in HFZA."
While evaluating their current market presence in the MENA/Africa region, Abhyankar said that Apar Industries Ltd. 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 said.
Hamriyah Free Zone houses 6,000 companies from across 155 nations, welcoming foreign investment from more than 500 industries in the key sectors of oil and gas, petrochemicals, maritime, steel, construction, and food.


China, EU to form group to modernize global trade rules

Updated 25 June 2018
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China, EU to form group to modernize global trade rules

  • China and the EU agreed to launch a group that will work to update global trade rules
  • Companies worry the US-Chinese dispute could chill global trade and economic growth if other governments respond by raising their own import barriers

BEIJING: China and the European Union agreed Monday to launch a group that will work to update global trade rules to address technology policy, subsidies and other emerging irritants and preserve support for international trade amid US threats of import controls.
Actions such as US President Donald Trump’s unilateral tariff hikes in a technology dispute with Beijing show World Trade Organization rules need to keep pace with changes in business, said an EU vice president, Jyrki Katainen.
Katainen said Europe was not siding with Beijing in its dispute with Trump but was taking action to protect the global system of regulating free trade. He said the EU wants other governments to join the WTO group.
Companies worry the US-Chinese dispute could chill global trade and economic growth if other governments respond by raising their own import barriers. Even before Trump took office, economists were warning countries were tightening import restrictions and taking steps to favor their companies over foreign rivals.
US officials complain the WTO, the Geneva-based arbiter of trade rules, requires an overhaul because it is bureaucratic, rigid and slow to adapt to changing business conditions.
Katainen said Europe wants to focus on issues including subsidies to industry, government pressure on foreign companies to hand over technology and the status of state-owned industry — all areas in which Beijing faces complaints by Trump as well as other trading partners.
“I don’t expect these negotiations to be easy,” Katainen said at a news conference. But if nothing is done, “the environment for multilateral trade will vanish.”
Trump has threatened to impose tariffs of 10 percent to 25 percent on up to $450 billion of Chinese goods. Beijing responded to Washington’s first round of hikes on $34 billion of imports by raising duties on US soybeans, whiskey and other products.
Other governments have similar complaints but Trump has been more direct about challenging Beijing and threatening to disrupt exports.
Beijing might agree to talks to deflect further sanctions but is unlikely to agree to changes that hamper its technology plans, said Mark Williams of Capital Economics.
“I very much doubt they would agree to anything that would have teeth and punish them,” said Williams. Policies companies object to are “integral to the growth model China is pursuing,” he said.
Beijing agreed to narrow its multibillion-dollar trade surplus with the United States by purchasing more American goods but scrapped that after Trump went ahead two weeks ago with a tariff hike on $34 billion of imports.
Beijing also has cut import duties on autos and some consumer goods and promised to remove limits on foreign ownership in its auto, insurance and finance industries.
But the Communist government has resisted any change to its plans that call for challenging US and European technology dominance by creating Chinese companies capable of competing in fields including clean energy, biotech and aerospace.
Chinese officials deny foreign companies are required to give up technology. But in many industries they are compelled to work through state-owned partners, which requires them to share know-how with potential competitors.
One in five companies that responded to a survey by the European Union Chamber of Commerce in China released last week said they felt compelled to hand over technology in exchange for market access.
Trump infuriated US allies — from the EU to Canada and Mexico — last month by imposing tariffs of 25 percent on imported steel and 10 percent on aluminum. He said imports threatened America’s national security — a justification countries use rarely because it can be easily abused.
Beijing has tried to recruit European allies in its dispute with Washington, promising visiting leaders including Germany’s Chancellor Angela Merkel in May to open industries wider to their companies.
On Monday, Premier Li Keqiang, China’s No. 2 leader, told visiting French Premier Edouard Philippe that Beijing would allow more imports of beef and other food from France. Li said French companies were welcome to invest.
“China takes a positive attitude to cooperation with the French side,” Li said.