CLICK HERE FOR VIDEOApar Industries, a leading player in speciality oils, today announced a technology and licence agreement with Italy's energy giant Eni.According to the agreement, the AGIP branded automotive lubricants meeting high performance and low emission standards will be introduced in India. The AGIP engine and transmission oils, known for their performance and protection, will be blended at Apar's plant at Rabale, Navi Mumbai.Eni, which owns the AGIP brand, is currently ranked 26th on the Fortune 500 list with a turnover exceeding $110 billion and a market capitalisation of over $140 billion. Kushal Desai, managing director, Apar Industries, said: "Italy's AGIP is a designer oil for designer cars. The entry of high-end AGIP oils in the Indian market means several things: highly improved auto performance, superior engine protection with due consideration to lower emission and pollution standards at affordable prices." The present size of the Indian lubricants market is approximately 1.5 million tonne with an annual growth rate of 3-4%. The size, in value terms, is around Rs 12,000 crore per annum. Of this, the automotive market is 60%, while the size of the industrial market is 40%."India is one of the largest emerging markets for lubricants in the world," said Paolo Cecamore, general manager (business development), Eni. "With the current boom in India's automobile market as well as in the manufacturing sector, we expect AGIP branded high performance lubricants to be a preferred choice of discerning users in the Indian market," he said.AGIP products are approved by global auto majors like the Volkswagen Group (Skoda, Audi, and VW), Mercedes Benz, BMW, Piaggio, Aprilia, Maserati, Porsche, Peugeot, Rolls Royce, Renault, Ford, Wartisla, MAN B&W and Volvo.
