Hazel International FZE (HIF), owned by Veritas (India) Limited, plans to invest $126.45 million in a facility to provide complete end-to-end solutions for liquid and solid cargo handling at the Hamriyah Free Zone in Sharjah, UAE.

The group performed the ground-breaking ceremony of the new facility yesterday (September 3), a WAM report said. The event was attended by Saud Al Mazrouei, director of Hamriyah Free Zone Authority (HFZA); Saurabh Sanghvi, group director of HIF, and other top officials.

The terminal will have facilities to store chemicals, petrochemicals, base oils, bitumen, vegetable oil, gases, liquefied gases, ethanol, bio-fuels and edible oils. Besides storage, the terminal will provide facilities to carry out distillation, extraction, hydrogenation and fractionation.

HIF has been granted 30,000 sq m of land in the tank terminal area of HFZA to develop the integrated petrochemicals and chemicals/handling and processing facility.

Hamriyah Free Zone houses 5,700 companies from across 155 nations, welcoming foreign investment in more than 500 industries in the key sectors of oil and gas, petrochemicals, maritime, steel, construction, and food.