The India-based Texol Lubritech FZC, a joint venture of Gandhar Oil Refinery India Ltd, has officially inaugurated its first overseas manufacturing unite in the Hamriyah Free Zone, Sharjah, making its first expansion move outside of India.
The $ 12 million manufacturing unite was opened yesterday (Monday) by H.E. Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority (HFZA) in the presence of Ramesh Parekh, Chairman of the group, Simon Philip, Vice Chairman and CEO of the company, several investors, businessmen and senior officials.
The 215, 278 sq.ft. plant is the third facility for Gandhar Oil Refinery India Ltd, to be opened with two other manufacturing plants already in operation in India.
The automated plant manufactures a complete range of white oils, LLP, HLP, transformer oils, rubber processing oils, industrial and automotive lubricants to cater the ever-increasing demand of cosmetic, pharma, transformers rubber, steel, automobile and other various type of industries. The capacity of the plant is 100,000 MT/annum.
Quality Investments
Al Mazrouei said: “The opening of Texol’s first overseas unite reflects HFZA’s prominent position as a preferred destination for the world’s leading industrial companies and would further enhance Sharjah’s illustrious reputation as a global hub for industrial companies”
“This is a realistic outcome of strenuous efforts being made by Sharjah to attract quality investments and enhance the business environment, in line with the wise directives of His Highness Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah”, added HFZA Director.
He further said: “HFZA has been handpicked by Texol Lubritech because of its miscellaneous incentives, privileges and state-of-the-art facilities developed specially to attract investors. Besides its perfect infrastructure and logistic services being offered to industrial companies, HFZA delivers competitive advantages and cost-effective solutions to go above and beyond the expectations of its customers and investors.”
Al Mazrouei concluded by saying: “We warmly welcome Texol Lubritech to Hamriyah Free Zone and we congratulate it on its exceptional plant, which was built according to the best international specifications. Texol’s move is yet another motivation for us to work very hard towards bolstering Sharjah’s status as a regional industrial hub. We will keep on developing and upgrading our services, infrastructure and facilities to meet the diverse needs of all customers and investors.”
Right Choice
“We thank HFZA for all facilities and support provided to us. This is the third plant of our group and will cater to the global market requirements. We are fully confident we have made the right move when we took Sharjah as a springboard for our operations and it will definitely help us improve our competitive edge,” said Samir Parekh, Executive Director of Gandhar.
He explained that Texol Lubritech FZC is the overseas joint venture of Gandhar Oil Refinery India Ltd (GORIL); a 25-year-old group specialized in oil and petroleum products, including high performance industrial & automotive lubricants and greases, transformer oils, rubber process oils, white oils, heavy & light liquid paraffin as well as petroleum jelly.
About HFZA
Hamriyah Free Zone, the second largest free zone and industrial center in the UAE, is strategically located between three continents, serving a growing market of huge number of people. It provides companies with value-added services and is seen as an ideal destination for large, medium and small industries, thanks to its distinctive logistics facilities and major highways. HFZA has a 14-meter deep-water port designed for export of giant vessels for petrochemicals and various goods
World-class facilities include warehouses, factories, and executive office suites with an eclectic range of on-site solutions; coupled with a host of exclusive free zone benefits including 100% foreign ownership of businesses, repatriation of capital and profits, corporate or personal income tax exemptions, import and export tax exemptions, in addition to long-term and short-term renewable rentals.
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