Italian oil major set to enter Indian market

Italian oil major ENI is entering the Indian lubricants market through a technology transfer agreement with a Mumbai-based firm to manufacture and sell various products. ENI will supply know-how and license to India’s Apar Industries to manufacture and sell lubricating oils, greases and specialty products for industrial, automotive and marine applications. As part of the technology transfer and licensing agreement, which is still subject to government approval, Apar Industries will produce 1,500 tons of lubricating oils, greases and other speciality products during 2007-2008. The company plans to increase the production of high-end lubricants to up to 6,000 tons by 2011-12. (May 2, 2007)