Company to establish a new facility at Hamriyah Free Zone in Sharjah – Gulf Today

Company to establish a new facility at Hamriyah Free Zone in Sharjah – Gulf Today

Top officials at the signing ceremony in Sharjah.

Ikigai Steel FZE has announced it will establish a new factory in Hamriyah Free Zone in Sharjah stretching over an area of 548,000 square feet and boasting an annual production capacity of 30,000 tonnes.

The factory will be equipped with state-of-the-art plant and equipment, providing cutting edge technologies and high end solutions for the iron and steel industry, backed by an estimated initial investment of Dhs 30 million. Ikigai’s expansion plans are aimed at meeting its long term vision of serving customers and suppliers in the local, regional, and global markets.

An agreement sealing this venture has been signed by Saud Salim Al Mazrouei, Director of the Hamriyah Free Zone Authority (HFZA), and Rajendran, Chairman of Ikigai Steel, in the presence of officials from both sides.

Al Mazrouei emphasized that Ikigai’s decision to take the Hamriyah Free Zone as its operational hub is yet another substantial addition to the growing investments HFZA has successfully attracted in line with the wise directives of His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. “We will spare no effort to support the Emirate’s economic diversification plans and attract high-quality investments