Apar locks Saudi base oil supply from Aramco’s Yanbu facility

Apar adds Saudi supply link: Indian power and energy equipment manufacturer Apar Industries is locking a new Saudi Arabia supply link after its wholly owned Saudi subsidiary signed an agreement with Saudi Aramco Base Oil Company to source base oils from Yanbu, Business Standard reports.

The agreement gives Apar a Saudi supply base for transformer oils and other specialty oils, adding a Gulf supply link to a company that already operates plants in India and the UAE and sells to more than 140 countries.

India-based real estate and investment company Oswal Greentech is setting up a Dubai subsidiary to undertake property development in the UAE, Business Standard reports. Oswal Greentech plans to put AED 40 mn (INR 1.03 bn) into the subsidiary for land purchases and construction of residential and commercial projects.

Investment plan: The company will own 95% of the unit through AED 38 mn worth of shares, while Shael Oswal, Oswal Greentech’s vice chairperson, will hold 5% through AED 2 mn (INR 51.8 mn) worth of shares. No project pipeline, land acquisition, or launch timeline was disclosed.

India-based engineering and mobility company Greaves Cotton has incorporated a wholly owned subsidiary, Greaves International Trading FZE, in Dubai, according to a stock exchange filing. The new entity will operate in the engineering industry and support Greaves Cotton’s overseas trading and distribution operations. Greaves Cotton will hold 100% of the subsidiary.