• Petrochem to lease 200,000 sq. ft. plot of land and establish additional storage facilities with expected storage capacity of 150,000 cbm
• Petrochem’s daily production capacity amounts to 800 metric tons of petrochemical products while annual refining capacity exceeds 2.1 million barrels
Sharjah, July 22, 2020: Green Petrochem, one of the most conducive players in the oil industry across the UAE, has announced an expansion plan in the Hamriyah Free Zone to boost its storage capacity and meet the growing demand for its services.
The expansion plan was announced last recently during a ceremony held to sign a lease agreement with the Hamriyah Free Zone Authority (HFZA).
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 HE Saud Salim Al Mazrouei, Director of HFZA, and Anish Vijapura, Managing Director of Green Petrochem, at HFZA premises. A number of senior officials from both entities attended the event.
Green Petrochem said that the deal comes as part of its expansion strategy to augment its operations in the regional and international markets.
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.
In addition to its main storage facility in the free zone, the company is looking to bolster its operations by establishing additional storage facilities and is targeting a future-storage capacity of a 150,000 cbm.
Ideal Business Environment
Speaking on the occasion, 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 H.H. 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.
“We are not only providing an easy access to regional and international markets, but also offering competitive advantages, which would help investors reach a large customer base in the fastest, most efficient and cost-effective way,” Al Mazrouei noted.
“Considering the unusual circumstances we have been going through, we have dedicated call centre and customer support to answer customers’ inquires and provide highest level of customer satisfaction and quality,” HFZA director highlighted.
Competitive Advantages
For his part, Vijapura emphasised that Green Petrochem has selected HFZA in particular 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.
With total refining capacity of 2.1 million barrels per annum, the company offers a range of competitive and high-quality refined products to support transport and industrial applications globally including Naphtha, Kerosene, Gasoil, Fuel Oil and Specialties Solvents like Aliphatic Hydrocarbon, White Spirit, Mineral Turpentine Oil, Solvent Naphtha and other Specialty Chemicals.
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 & 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.
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