Sharjah's HFZA inks strategic partnership deal with Lamprell

Sharjah's HFZA inks strategic partnership deal with Lamprell
Sharjah's HFZA inks strategic partnership deal with Lamprell

We show you our most important and recent visitors news details Sharjah's HFZA inks strategic partnership deal with Lamprell in the following article

Hind Al Soulia - Riyadh - Caps:

SHARJAH — Sharjah-based Hamriyah Free Zone Authority (HFZA) has signed a strategic partnership agreement with Lamprell, the leading provider of fabrication, engineering and contracting services to the offshore and onshore oil & gas and renewable energy industries.

Under the agreement, Lamprell will lease an additional 1.360 million sq. ft. of land inside the free zone in order to continue to improve its efficiencies and support the delivery of its strategic objectives.

Saud Salim Al Mazrouei, director of Hamriyah Free Zone Authority said: “This is further testimony to HFZA’s growing status and reputation as a leading hub for attracting foreign investments and offering global competitive advantages.”

Lamprell, which is listed on the London Stock Exchange, has over 40 years' experience in providing engineering, procurement, construction and other contracting services to the energy industries.

It employs more than 4,000 people across multiple facilities, with its primary facilities located in Hamriyah, Sharjah. In 2011, the group expanded its operations at HFZA with the opening of new facilities specializing in constructing jackup drilling rigs and fabricating jacket foundations for turbines and cranes required for land and marine fields, wind fields and other energy production facilities.

“We have successfully created a growth-stimulating and an incubator-like environment and are offering excellent facilities, making us a magnet for foreign investments. This is why businesses choose to launch and expand from Sharjah into regional and international markets,” HFZA said.

Global Reputation

Al Mazrouei emphasized that Lamprell’s expansion at HFZA despite the current global economic conditions highlights the great confidence placed in Sharjah being a leading global hub for businesses, in addition to the global reputation enjoyed by HFZA, which is famous for being the current and future headquarters of major companies specialized in heavy industries.

“The deal that we have signed is the result of our successful cooperation and distinguished relationship with investors,” he said, adding that HFZA’s advanced infrastructure, quality services, in addition to the efficiency of its logistical support, are all major factors behind attracting companies and retaining investments.

“At HFZA, we are moving forward in line with the wise directives of Dr. Sheikh Sultan Bin Mohammad Al Qasimi, supreme council member and ruler of Sharjah, to deliver services and facilities of top-notch quality to all investors. We are sparing no efforts to create a supportive environment conducive to business entry, expansion, and international competition,” he added.

“Lamprell’s decision to expand in the free zone was a step in the right direction as we are committed to providing all forms of support to our partners to back and empower their operations and the quality of their services,” HFZA’s director stated.

Sophisticated Services

For his part, Lamprell’s Ridout said: “Our expansion inside HFZA will allow us to improve our production efficiency significantly and support our strategic objectives. Throughout Lamprell’s journey alongside HFZA, they have been with us every step of the way: a real business partner.”

In addition to offering industrial and commercial plots of land, HFZA, the second largest industrial free zone in the UAE, provides advanced infrastructure and modern facilities that strengthen external expansion plans for investors, especially in import and re-export to the world’s markets.

It also provides countless competitive advantages, most notably a single window operation that boosts the efficiency of performance and ease procedures of doing business, along with multiple tax exemptions, repatriation of capital and profits, full foreign ownership of business, and quick access to regional and global markets. — SG


These were the details of the news Sharjah's HFZA inks strategic partnership deal with Lamprell for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Saudi Gazette and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Saudi Arabia to allow Boeing 737 MAX to return to service