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Saud Al Mazrouei: The region is an ideal environment for establishing vital projects
Bilal Merchant: Provides direct access to regional and international markets
Sharjah:
The Hamriyah Free Zone Authority in Sharjah has strengthened its leadership and investment attractiveness in the oil and energy sector, according to the agreement it concluded with the Indian “Infinity Energy and Mining” company, which is based in the region, through which the company announced the doubling of its investments in the free zone, through a plan To establish a multifunctional oil refinery with a production capacity of 10,000 barrels per day and an annual refining capacity of 3.6 million barrels.
The agreement was signed at the Authority’s headquarters, by Saud Salem Al Mazrouei, Director of the Hamriyah Free Zone Authority in Sharjah, and Bilal Merchant, Director of the “Infinity” Mining and Energy Company, in the presence of a number of senior officials from both sides. According to the agreement, the company will lease a plot of land with an area of 200,000 square meters. square feet to build its facilities and facilities, and enhance its storage capacity to meet the increasing demand for its services and products.
This expansion plan by the Infinity Energy and Mining Company comes in view of the Hamriyah Free Zone’s offering of a set of integrated solutions for exploration, production and refining projects, as well as being a thriving incubator for regional and international companies specialized in the oil industries, supported by an ideal business environment and a system of exceptional services and benefits. Which made it a distinct industrial base for international companies specialized in this sector.
leading position
Saud Salem Al Mazrouei said: “The announcement by Infinity Mining and Energy Company of its investment plan and the expansion of its operations from the Hamriyah Free Zone embodies the leading position occupied by the region as the preferred investment destination for heavy industries and the petrochemical industry, and confirms its attractiveness and importance in the oil and energy sector and various other sectors. Thanks to its commitment to implementing the visions and directives of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, which made the region a model in the strength of investment return and an ideal environment for establishing vital projects, and an important tributary for the national economy, ”noting that the new facility will be an addition to the growing economic scene. In the Emirate through the volume of its production, which meets the demand for energy products and its derivatives for existing and future industrial projects.
Al Mazrouei pointed out that the company’s choice of the Hamriyah Free Zone to establish a multifunctional oil refinery came to confirm international standards and the stimulating investment climate that the region provides to investors in the energy and oil sector, especially since it today includes more than 1,200 companies from the largest international companies specialized in this sector, within An area designated for petrochemical industries, which is characterized by an important strategic location, and its connection to a commercial port with a depth of 14 meters that supports import and export operations for investing companies, and easy access to major markets with a set of distinguished services such as advanced infrastructure, world-class logistical services and modern facilities that made it today the second largest petrochemical center At the state level.
competitive advantages
Bilal Merchant said: “The announcement of the company, which has been operating in the Hamriyah Free Zone since 2018, of its new investment plan in the region to establish a multi-functional oil refinery and a modern oil storage facility with loading and unloading of materials with more than 20 loading slots, comes within the framework of our expansion strategy to enhance the scope of Our operations in the regional and international markets, due to the strategic geographical location enjoyed by the region, which suits the company’s specializations, whether in the petrochemicals, minerals and energy sector, which provides us with direct contact with major manufacturers who are based in the region or in the regional and international markets through competitive advantages that It is provided by Harrat Al Hamriya, and it will help us reach a large customer base in the fastest, most efficient and cost-effective way,” pointing out that the new facility, upon completion of work, will provide job opportunities for more than 100 technicians and workers.
