Petrozo Energy announces an ambitious plan to establish a new manufacturing facility in Sharjah, spanning over 430,000 square feet.
Byline Hatem Mohamed & Tariq Al Fahaam
The new facility plan was unveiled following the signing of an MoU by Hamriyah Free Zone Authority Saud Salim Al Mazrouei, and Petrozo Energy Chairman Randhir Bansal, in the presence of Petrozo Energy CEO Tarique Kamal along with several managers and officials from both parties.
Under the agreement, a new Petrozo Energy plant will be set up in Sharjah’s Hamriyah Free Zone with an estimated investment of AED 120 million. The state-of-the-art facility is projected to have a substantial monthly output capacity of 6,000 metric tonnes, equating to an annual production of approximately 72,000 metric tonnes.
This expansion is expected to secure the company a 15% share of the total market production.
Commenting on the partnership, Saud Salim Al Mazrouei says that Petrozo Energy’s decision to invest and broaden its international footprint from Sharjah is a testament to Sharjah’s commitment to fostering an investment-friendly climate, in line with the strategic vision of H.H. Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.
According to Al Mazrouei, the Hamriyah Free Zone Authority delivers advanced facilities and infrastructure, designed to provide businesses with seamless access to major global markets and support a robust industrial and manufacturing sector.
“We are committed to tailoring our services to meet the evolving needs of manufacturers and bolstering their expansion within the non-oil sectors not only to sustain the growth of the UAE’s national economy but also to increase the industrial sector’s contribution to the GDP and reinforce Sharjah’s stature as a principal hub for production and export activities,” says Al Mazrouei.
As for the choice of location, Kamel says that choosing HFZA as a base for Petrozo Energy’s new facility aligns perfectly with the company’s strategic vision to cater to its clientele in the UAE, the Middle East, East Africa, and Southeast Asia. He says that their decision was based on high demand growth.
“The Hamriyah Free Zone offers numerous competitive advantages that would position us closer to our global customer base. Its strategic location, ease of business operations, and modern infrastructure are perfectly suited to our needs, enabling seamless access to regional and global markets and facilitating connections with customers worldwide,” says Kamal.
Kumar agrees. “The strategic location of Sharjah, combined with the advantageous positioning of HFZA near Hamriyah Port, offers unparalleled export and import facilities for the oil, gas, and petrochemical sectors. This not only bolsters the emirate’s industrial base but also significantly contributes to the national economy, reinforcing its role as a vital gateway for international companies”.
Notes from the Editor: Singapore-based Petrozo Energy Group has a global network with offices across Indonesia, India, Thailand, the UAE, Hong Kong, Myanmar, Bangladesh, the Philippines, the USA, and Vietnam.
