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- Al Mazrouei: HFZA becomes a major hub for oil and gas business thanks to the vision of HH Sharjah Ruler
- John: The new facility will help MTC expand its expertise in other areas, such as renewable energy and electrical modular buildings, and enter new markets
Sharjah: Magnum Technology Centre (MTC), a global leader in the design and manufacture of complete equipment packages for well testing and production, managed pressure drilling and underbalanced drilling services, has opened a new 345,000 sq ft production facility in Hamriyah Facility Free Zone.
The new plant will increase MTC’s production capacity by 10% from the current 1,000 metric tons per year.
MTC’s second factory in the UAE was opened by HFZA Director HE Saud Salim Al Mazrouei and MTC Vice President Sajeev John in the presence of senior HFZA officials and MTC HFZA General Manager Shibu David.
Shortly after cutting the ribbon, Al Mazrouei, accompanied by a number of HFZA officials, toured the new plant, powered by 121 experienced employees and with good engineering and manufacturing capabilities to meet the needs of the oil and gas industry. He heard presentations on the latest technologies and solutions offered in the fields of well test production, underbalanced drilling, managed pressure drilling and modular construction.
Due to its state-of-the-art infrastructure and advanced logistics capabilities, the Hamria Free Zone Authority has attracted the attention of many well-known companies in the oil and gas industry from around the world, especially those looking to expand their operations in India. The promising market is full of growth opportunities in the energy sector.
It is worth noting that the UAE is the seventh largest oil producer in the world, producing more than 4 million tons in 2020. The UAE is also the tenth largest gas producer in the world. As such, the Free Zone (HFZA) in Sharjah is committed to providing a unique investment environment that will propel all businesses to unprecedented levels of growth and excellence through forward-looking policies and initiatives.
Preferred investment destination
Speaking on the occasion, Al Mazrouei emphasized that HFZA has developed into an important hub for the oil and gas industry. This would not have been possible without the wise vision of Dr. Sheikh Sultan bin Mohammed Al Qasimi, a member of the Supreme Council of Sharjah and Ruler, who seeks to strengthen Sharjah’s position as a top investment destination, providing value-added services to all investors.
“Driven by Dr. Sheikh Sultan’s vision, HFZA has prioritized making all essential needs more accessible to investors, especially in the energy sector. We have therefore developed an integrated logistics service system and cutting-edge infrastructure to stimulate investments including oil and Growth of businesses including the gas industry,” said Al Mazrouei.
He added: “MTC’s new facility at HFZA will certainly be a great addition to other oil and gas businesses operating in the free zone, especially throughout the UAE, simply because of its unique professional and innovative services.”
Al Mazrouei continued that the presence of the Hamriyah port, which provides import and export services for oil, gas and petrochemical raw materials, and the fact that HFZA is strategically located in the middle of the most important energy markets in the world, has led to more than 1,500 companies specializing in the petrochemical industry, oil and gas Businesses that store and refuel operate in the free zone. In addition, we have specially allocated a comprehensive service area for companies working in this industry.
main supplier
Sajeev John said: “Since we established our first production facility in the UAE in 2010, we have set our sights on becoming a major supplier to the global oil and gas industry, offering a range of innovative personal and packaging products, designed and produced in accordance with the latest Manufactured from stock or ahead of schedule, the industry standard improves our customers’ ability to bring services to market on time.”
“We chose HFZA in particular for many reasons. HFZA offers foreign investors unique privileges and facilities, and has a rich and diverse experience in both traditional and renewable energy sectors. It is also one of the most important and largest free zones in the UAE, attracting Huge investment in the energy sector, especially oil and gas. It houses major international companies operating in this sector. We believe that our HFZA-based production facility will help us expand our presence in other sectors such as renewable energy, electrical modular buildings, etc. business expertise and access to new markets in the Middle East, Africa and Europe,” added John.
In addition to providing industrial and commercial land, HFZA, the second largest industrial free zone in the UAE, offers advanced infrastructure and modern facilities to enhance investors’ external expansion plans, especially in import and re-export markets. It also offers countless competitive advantages, most notably single-window operations that improve performance efficiency and simplify doing business, as well as multiple tax exemptions, repatriation of capital and profits, full foreign ownership of businesses, and fast access to regional and global markets.
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For more information please contact:
Mustafa Taha
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mustafa@misbar-me.com
Ali Elkindi
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ali@misbar-me.com
Mahmoud Soliman
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mahmoud.soliman@misbar-me.com
Sanarabibidi
sana@misbar-me.com
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