AVISTA OIL AG and IFP Petro join forces to transform used oil re-refining in India and create a sustainable future
May 26, 2023
BusinessWire India
Noida (Uttar Pradesh) [India], May 26: AVISTA OIL AG, the leading global player in used oil collection, re-refining, and sustainability, has entered the Indian market through a strategic partnership with IFP Petro Products, a pioneer in the Indian used oil re-refining industry. The partnership aims to revolutionize the used oil re-refining industry in India by introducing innovative technologies and sustainable work practices.
IFP Petro and AVISTA OIL AG share a common vision of creating a circular economy for used oil, where waste is minimized, valuable resources are recovered and reused with maximum carbon offset. Through this partnership, IFP Petro will leverage AVISTA OIL AG's expertise, state-of-the-art technologies, and global network to expand its operations and increase its efficiency in used oil collection, re-refining, and distribution.
Anant Bhargava, CEO of IFP Petro, expressed his excitement about the partnership, saying, "We are thrilled to partner with AVISTA OIL AG, a company that shares our values and commitment to sustainability. With their support, we can take our operations to the next level and achieve our mission of creating a more sustainable future for India."
Marc Verfurth, CEO of AVISTA OIL AG, also expressed his enthusiasm, saying, "India is a key market for us, and we are excited to partner with IFP Petro to bring our expertise and technologies to this region. We believe that this partnership will create significant value for both companies and contribute to the development of a circular economy for used oil in India."
The partnership is expected to bring significant benefits to the Indian used oil re-refining industry, including improved quality, increased efficiency, reduced waste and enhanced sustainability. India is the third largest consumer of lubricants with an estimated 1.5 Million Metric Tonnes of Used Oil generated annually.
(Disclaimer: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
