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Petroleum Specialties opens Dhs 66m white oils plant at Hamriyah Free Zone

Sheikh Khalid bin Abdullah bin Sultan Al Qasimi, Chairman of the Hamriyah Free Zone Authority (HFZA), inaugurated the USD 18 million (AED 66 million) fully-automated 30,000 sq m facility of Petroleum Specialties at Hamriyah Free Zone in March 2017. Petroleum Specialties is a specialized manufacturer of industrial white oils and is the first wholly-owned subsidiary of its parent company, Apar Industries, outside India. The inauguration was also attended by Saud Salim Al Mazrouei Salim Al Mazrouei, Director of HFZA and Sharjah Airport International Free Zone; Kushal Desai,Chairman and Managing Director of Apar Industries; Sanjay Abhyankar, Vice-President of Sales; and a number of government officials, investors, businessmen and senior directors from both HFZA and Apar Industries.

 

Speaking at the event, Al Mazrouei said that the new plant will have a prestigious status in the Free Zone as it is a subsidiary of India’s largest, and one of the world’s top manufacturers of specialized industrial oil. He also emphasized that the launch of similar vital projects in the Free Zone would continue. “We will continue our efforts to build partnerships and attract diverse investments to keep pace with the economic development in Sharjah, as the emirate enjoys one of the most diversified and attractive economies in the entire region,” he said. “The inauguration of the plant, the first and largest-of-its-kind in the region, which is expected to meet the demand for quality industrial oil products in the regional markets is proof of HFZA’s successful strategy in attracting international firms,” he stated. Al Mazrouei also encouraged the local and foreign business community to benefit from the investment opportunities offered by Hamriyah Free Zone to help investors build effective business relations.

 

Kushal Desai stressed that Sharjah’s strategic location and HFZ’s significance as a leading and thriving investment destination, along with the facilities and incentives offered to investors, motivated the company to establish its new plant in the Free Zone to help serve its operations and expansion plans in the regional markets and meet the increasing demand.