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Under the contract, the petrochemical company will lease a 200,000-sq-ft plot of land to expand its facilities and respond to the increasing demand for its products.
The agreement was signed by Saud Salim Al Mazrouei, Director of HFZA, and Anish Vijapura, Managing Director of Green Petrochem, at the HFZA premises. A number of senior officials from both entities attended the event.
Green Petrochem said the deal comes as part of its expansion strategy to augment its operations in the regional and international markets.
Green Petrochem is a company that is specialised in providing simple yet effective solutions that meet its customers’ demand with a different range of petroleum and petrochemical products with quality and service delivery system that is responsive, reliable and related to today’s fast-moving business environment.
Al Mazrouei said: “Petrochem’s decision to strengthen its presence is a step in the right direction and does reflect our commitment to implementing the wise directives of HH Dr Sheikh Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. We are keen to provide our valued investors with various services of top-notch quality within an ideal environment that help them grow and thrive like never before and achieve their ultimate business goals.
“Despite the tough economic circumstances that we are going through, the company decided to expand its operations in the free zone, in yet another testament to the deep trust that Sharjah has earned as a leading global hub for businesses as well as the global reputation enjoyed by HFZA, being the current and future headquarters of major heavy industries companies,” Al Mazrouei added.
He further said that HFZA’s state-of-the-art infrastructure, logistic services, modern facilities and attractive services were the reason behind investors’ great interest in taking it as a springboard for their businesses and expansion activities.
For his part, Vijapura emphasised that Green Petrochem has selected HFZA to expand its activities given its competitive advantages, which perfectly meet its expansion strategy, especially when it comes to shipping services and logistical facilities.
He added that the deal builds on Petrochem’s strategic partnership with HFZA and opens up a new chapter of cooperation toward achieving the common goal, lauding the free zone’s world-class services being provided to the company, which facilitate and speed up doing businesses.
Born six years ago, Green Petrochem is now planning to set foot in the US market and is currently having a daily production capacity of 800 metric tons.
In addition to offering sophisticated infrastructure and modern facilities that strengthen investors’ foreign expansion plans, the Hamriyah Free Zone, the second largest and fastest growing industrial free zone in the UAE, also provides leasable industrial and commercial plots of land.
It also delivers numerous competitive advantages including a single window operation, 100% foreign ownership of business and repatriation of 100% capital and profits, exemption from corporate and personal income tax, easy access to regional and international markets and many world class facilities and services for investors looking to establish their business in the UAE and operate with the support of a customer friendly free zone authority, the statement said. – TradeArabia News Service
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