HAMRIYAH FREE ZONE AUTHORITY SECURES INVESTMENT AGREEMENT WITH ARCELORMITTAL DSTC FZE

KUALA LUMPUR, Oct 22 -- The Hamriyah Free Zone Authority (HFZA) has added another industry leader to its investors base after ArcelorMittal Projects, part of the ArcelorMittal Group, the world’s leading Steel and Mining company, recently acquired the assets of a Pipe & Coating Mill located at Hamriyah Free Zone and leased 1.38 million square feet of Industrial land.

The announcement was made during the signing of a memorandum of understanding (MoU) by Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority, and Johannes De Schrijver, CEO of ArcelorMittal Projects.

According to the agreement, the company shall provide complete, customised, and sustainable steel solutions and services via three specialised and project-related business lines: Foundation Solutions, Solar Projects, and Energy Projects (Anti-corrosion coating solutions), in addition to (Water Transmission Pipeline), Infrastructure (Sleeves, Construction).

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Commenting on the agreement, Al Mazrouei said in a statement: "We are so proud to add another industry leader to our investors' base at HFZA. The presence of ArcelorMittal Group, the world’s leading steel company, constitutes a great asset to the industrial sector in the Emirate of Sharjah.

“Such a move encourages other investors to launch new vital projects in the near future, especially now that the UAE is moving rapidly towards economic recovery.”

He said attracting ArcelorMittal Projects is a turning point in HFZA's directions towards realising the requirements of the UAE’s industrial strategy.

Meanwhile, De Schrijver said: “We are pleased to forge a long-term partnership with HFZA, through which we seek to provide the most cost-effective solutions.

“Our products are backed with the technical expertise of highly qualified people with an average experience of more than 15 years in HSAW/SSAW Pipe Manufacturing and Anti-Corrosion Coating."

-- BERNAMA