SHARJAH 11 October 2020: Sharjah-based Hamriyah Free Zone Authority (HFZA), has signed an agreement to lease over half a million square feel to Alucor, an international engineering, procurement, and construction contractor.
Alucor leased 555,418 sq. ft of the inner harbor quayside land in the free zone to expand its operations in the region.
Alucor was founded in the UAE and has over 30-year of experience in oil and gas, petrochemicals, ports and marine, power and water, mining and metallurgy, along with infrastructure industries and market segments. It is considered one of the most reliable and experienced EPC contractors in the Middle East.
Saud Salim Al Mazrouei, Director of Hamriyah Free Zone, and Suresh Bhatia, Chairman of Alucor, signed the lease agreement during a ceremony held at HFZA offices in the presence of senior officials and directors from both sides.
The agreement is further testimony to HFZA’s growing status and reputation as a leading hub for attracting foreign investments and offering global competitive advantages.
Regarding the agreement, Al Mazrouei said, “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 center for expanding its operations in nearby and distant markets.
Bhatia said: “Alucor is extremely pleased and excited to establish 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.”