Hamriyah Free Zone Authority (HFZA) in Sharjah has reached an agreement with international EPC contractor, Alucor for it to lease 51,600 sqm. plot of land within the free zone.
Under the terms of the deal, Alucor has leased the inner harbour quayside land to expand its operations in the region.
Saud Salim Al Mazrouei, director of HFZA, remarked that the agreement is a testimony to HFZA’s growing status and reputation as a leading hub for attracting foreign investments and offering global competitive advantages.
Al Mazrouei signed the deal with Suresh Bhatia, the chairman of Alucor, during a ceremony held at HFZA offices in the presence of senior officials and directors.
“Despite the current global economic conditions, HFZA has proven its ability to attract investments from all sectors, thanks to the numerous competitive benefits we offer, which are a crucial factor in the decisions of these companies to have a presence in Sharjah and to use it as a centre for expanding its operations in nearby and distant markets,” Al Mazrouei stated.
Meanwhile, Bhatia said Alucor was excited to set up a new facility in Hamriyah Free Zone.
“Over the last few years, we have been actively identifying the right investment opportunities to expand our business. While Alucor has several active projects presently being executed, we see the current challenging market conditions as an opportunity to further improve our infrastructure so that we can enhance our market offering and better serve our customers,” Al Mazrouei concluded.