Radiant Group to construct $10mn oil distillation plant in Hamriyah Free Zone
India’s Radiant Group is set to build its new factory on a 107,639 sq ft of land at Hamriyah Free Zone, Sharjah, at an investment of $10 million.
The 60,000 metric-tonne-capacity oil distillation plant will come up in the Phase Two of the Sharjah free zone by the middle of next year.
Based in Maharashtra, Radiant has developed in‐house operational and commercial expertise in oil distillation processes. It manufactures alternate petroleum products and refines used/waste lubricating oil.
"We have leased 107,639 sq ft of land in phase-two of Hamriyah Free Zone and the construction of our factory will start soon”, said Vibhor Gupta, the managing director of Radiant Overseas, after signing the lease agreement with Saud Salim Al Mazrouei, the director of Hamriyah Free Zone Authority (HFZA) and Sharjah Airport International Free Zone (Saif Zone).
“This is a state-of-the-art process where recycled base oils of various grades are produced apart from fuel oil and gas oil. Our group has won awards for its excellence and it had a turn-over of $21 million last year,” added Gupta.
Welcoming the group to the fraternity, Al Mazrouei said: "It is pleasing to see more manufacturing units flocking to HFZ, which is surely a sign that we are progressing. I hope that Radiant’s new initiative here will increase its output and expand its network."
"A number of new companies have been opening in Hamriyah Free Zone due to its strategic position and attractive offers and facilities. Our goal is to create a robust business environment by meeting the needs and demands of our investors," he added.
Gupta said that potential customers can now look forward to new product offerings, such as special solvents from Radiant Overseas, globally in paint industries, agro-industries and other sectors.
"We chose Hamriyah as our regional base because Sharjah plays a vital role with its strategic location between three continents, serving a growing market of 2 billion people. Moreover, we found that the free zone has a well-developed infrastructure and an environment suited for growth", he added