Hamriyah Free Zone continues to play key role in boosting Sharjah’s economic growth

Hamriyah Free Zone Authority (HFZA) in Sharjah had a very successful year in 2021, 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.

During the last year, the authority has attracted nine international companies from the US, African countries, India, and others, WAM reported.

These investments are spread out over an area of 850,000 sq ft ranging from warehouses and plots of land, with a total investment value of about Dhs271 million. “Such figures clearly reflect the outstanding facilities, incentives, and advantages provided by HFZA to further strengthen its attraction to investors,” the authority said.

“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 added: “Thanks to the visions and directives of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the emirate has become a starting point for companies towards global markets, a lot of credit goes to the economic diversification policy adopted by the emirate, as well as its perfect commercial and industrial environment, and its commitment to the interests of investors.”

Al Mazrouei pointed out that HFZA has a specific strategy with two key pillars to attract foreign investments to the emirate.

The first pillar is attracting quality investments that support the national strategies of Sharjah, especially about 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 to expand its activities in MENA markets. The company operates in 40 countries and is set to invest some Dhs100 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 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 Dhs9 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 Dhs60 million as a first phase and Dhs30 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 Dhs50 million 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 Dhs22 million in the first phase and Dhs45 million in the second phase, bringing the company’s total investment to Dhs67 million.