Alucor Signs Leasing Deal with Sharjah's Humriyah Free Zone
The Hamriyah Free Zone Authority (HFZA) has signed an agreement to lease over half-a-million square feet to Alucor, an international engineering, procurement and construction contractor.
Under the agreement, Alucor leased 555,418 sq feet of the inner harbour quayside land in the free zone to expand its operations in the region.
Alucor was founded in the UAE and has over 30-year of experience in oil and gas, petrochemicals, ports and marine, power and water, mining and metallurgy in addition to infrastructure industries and market segments.
Saud Salim Al Mazrouei, Director of the HFZA, and Suresh Bhatia, Chairman of Alucor, signed the lease agreement during a ceremony held at the HFZA office in the presence of senior officials and directors from both sides.
Al Mazrouei said: “Despite the current global economic conditions, the HFZA has proven its ability to attract investments from all sectors, thanks to the numerous competitive benefits we offer, which are a crucial factor in the decisions of these companies to have a presence in Sharjah and to use it as a centre for expanding its operations in nearby and distant markets."
Suresh Bhatia commented: "Over the last few years, we have been actively identifying the right investment opportunities to expand our business.
"While Alucor has several active projects presently being executed, we see the current challenging market conditions as an opportunity to further improve our infrastructure so that we can enhance our market offering and better serve our customers."