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Factory to produce special chemicals inaugurated at HFZ
DUBAI - The first factory of its kind to produce special chemicals was inaugurated in Hamriya Free Zone(HFZ) recently. The factory belongs to Tiger Chemicals Company which has invested 10 million dirhams and will commence production this year.
Chris Mcnalty, the executive manager of Tiger Chemicals said that the factory will cover the needs of AGCC countries. Its products will also be exported to the European Union (the EU, South Asia, Africa and Far East.
Around 20 companies with total expected investments of 500 million dirhams recently signed investment contracts in the inner harbour of Hamriya Free Zone (HFA), thereby increasing the rented area of the inner harbour up to 70 per cent of the total number of lots.
This was announced by Engineer Rashid Al Leem, director general of Hamriya Free Zone Authority.
“Bringing in international companies to invest in the free zone reveals the visions of His Highness Dr Shaikh Sultan bin Mohammed Al Qasimi, Member of Supreme Council and Ruler of Sharjah, in establishing the inner harbour in HFZ which will provide the investors with great investment opportunities to achieve their objectives.’’
He also said that the investment contributions of many international firms in the area are a valuable addition to the strategy of the zone to make it an example for the Middle East, contributing to the importance and the excellent reputation of the zone internationally. Within a short period of less than 4 years, the administration of the free zone has spread no efforts to make it a leading area in the Middle East distinguished in broad spectrum of industries especially those involved in Petrochemicals and Heavy Industries.
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