Tuesday 24 May 2022

Hamriyah Free Zone attracts 9 new firms, $74m in 2021

Sharjah, UAE, January 23, 2022

UAE’s leading economic zone Hamriyah Free Zone Authority (HFZA) in Sharjah has attracted nine international companies from the US, African countries, India, and other parts of the world in the year 2021, a WAM report said.
These investments, spread out over an area of 850,000 sq ft, ranging from warehouses and plots of land, have brought in a total investment value of about AED 271 million ($73.79 million) for the zone. 
"Such figures clearly reflect the outstanding facilities, incentives, and advantages provided by HFZA to further strengthen its attraction to investors," the authority said today (January 23).
According to the authority, the year 2021 was a very successful year for the Hamriyah Free Zone Authority (HFZA) in Sharjah, where it has continued to consolidate its position as a favoured investment destination for various types of businesses, besides its role in supporting the economic growth in the Emirate of Sharjah.
"Since its establishment, Hamriyah Free Zone has played a significant role in strengthening the position of the Emirate of Sharjah as a destination for global investments and a business centre in the Middle East. This is attributed to the continued success of the Authority in attracting investors and international companies operating in various economic sectors," said Saud Salim Al Mazrouei, director of the Hamriyah Free Zone Authority. "The previous year's figures demonstrate HFZA's solid presence its pivotal role as a gateway to the markets of various countries, regions in the world.”
Al Mazrouei pointed out that HFZA has a specific strategy with two key pillars in order to attract foreign investments to the emirate. The first pillar is attracting quality investments that support the national strategies of Sharjah, especially with regard to economic diversification, noting that the companies operating in the Authority are covering various businesses and industries, such as trade and petrochemical industries, and the manufacture of medical and health equipment and products.
The second pillar is launching marketing and promotional campaigns at the home countries of the investing companies to identify the nature of their work, their needs, and their willingness to enter and enhance their presence in regional markets, through direct visits, organising seminars, participating in official delegations as well as various exhibitions and events.
Last January, HFZA has inked an investment deal with two giant African petrochemicals companies (Global Vision Specialty Chemicals & Proud Lubricants and Grease IND). The first company is specialised in Blending, Packaging & Drumming of Drilling Upstream & Downstream Petrochemicals and Chemical Additives, while the activity of latter is the manufacturing of Lubricants, Grease, Plastic Products & Tins.
The two companies have leased over 1,076,391 sq. ft. plots of land to establish world-class petrochemicals factories and warehouses for export to local, regional, and global markets.
In February 2021, Medtra, one of the world’s major companies in the production and manufacturing of healthcare equipment and products, has inaugurated its new headquarters in the Hamriyah Free Zone in order to expand its activities in MENA markets. The company operates in 40 countries and is set to invest some AED 100 million in the coming years.
In March, India’s ATS Terminals FZE has increased its tank storage capacity from 42,000 CBM to 72,000 CBM, revealing the completion of the third phase of its expansion project at HFZA. ATS TERMINALS FZE offers services to clients that include bulk liquid storage and bulk transportation of chemicals and petroleum products.
In April of the same year, Awail Al-Sham, owner of the Al Awail brand for prayer times clock and other innovative e-products, has announced that its products have become available in 100 markets worldwide, as opposed to 50 markets in 2013, the year in which the company has opted for the HFZA as its new headquarters, achieving a growth rate of more than 100 percent in the number of destinations of export.
During the 26th edition of Gulfood 2021, HFZA has signed a lease agreement with Al Aliyo HydroFarms, a hydroponic fodder farm in the UAE, according to which, the company has launched the first phase of its investment at Sharjah Food Park. This includes two warehouses covering an area of 12,000 square feet (sq. ft), with an investment value of about AED9 million, and a daily production capacity of about 10 tonnes of hydroponic fodder.
In October, Hamriyah Free Zone has added another industry leader to its investors base, after the ArcelorMittal Projects, a part of the ArcelorMittal Group, the world’s leading Steel and Mining company, has acquired the assets of a Pipe & Coating Mill located at Hamriyah Free Zone. Besides the acquisition, ArcelorMittal Projects has leased 1.38 million square feet of industrial land, with an estimated value of about AED60 million as a first phase and AED30 million as a later phase.
Siddharth Grease and Lubes Pvt. Ltd. (SGL), a leading Indian manufacturer and supplier of lubricants, has opened its first plant in the Middle East in the inner port of Sharjah's Hamriyah Free Zone Authority (HFZA). Trinity Lubes & Greases FZC was the name chosen by SGL for its new plant in the Hamriyah Free Zone, with an investment expected to reach 50 million dirhams as an initial stage. The total area of the new investment is some 135,000 sq ft.
At the end of the year, the UAE’s Grankraft company, specialising in metal production for building iconic landmarks, has leased approximately 323,000 sq ft plots of land, with an investment value of AED 22 million in the first phase and AED 45 million in the second phase, bringing the company's total investment to AED67 million.—TradeArabia News Service


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