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The Hamriyah Free Zone Authority (HFZA) has cemented its leading position in terms of regional investment in the oil and energy sector, following a deal with an Indian company, Infinite Mining & Energy.
Infinite announced that is going to double its investment in the free zone and establish a multifunctional oil refinery. The new facility will have a daily production capacity of 10,000 barrels and an annual refining capability of up to 3.6 million barrels.
Under the terms of the agreement, Infinite will lease a 200,000 ft 2 plot of land in the free zone to build its facilities, which will significantly increase the company’s storage capacity, catering to growing demand for its services and products.
Speaking on the occasion of the agreement, HFZA director, H.E. Saud Salim Al Mazrouei, said the company’s choice of Hamriyah Free Zone to establish a new oil refinery underscores the high global standards and the favourable investment climate HFZA offers to investors in the energy and oil sectors. “As of today, the free zone houses over 1,200 companies, including major international corporations specialising in this sector. They operate within a dedicated area for petrochemical industries, which boasts a strategic location and is connected to a commercial port with a depth of 14 m,” he added.
Infinite began operations in the Hamriyah Free Zone in 2018, and its latest plans to set up a multifunctional oil refinery, alongside a modern oil storage facility equipped with over 20 loading slots, reflects its strategic expansion plans. Managing director, Bilal Merchant, says, “HFZA’s strategic geographical location aligns perfectly with our company’s specialties in the petrochemical, metallurgy, and energy sectors, enabling us to maintain direct interactions with leading manufacturers both locally and globally.”
