Dubai – Mubasher: SRS Middle East FZE revealed plans to launch a long-term AED 160 million investment in the Hamriyah Free Zone in Sharjah.
The company’s investments include the construction of a terminal that provides services for industrial reprocessing of waste oils, as well as trading services that include trade, import and fuelling of ships, according to the company’s statement.
“There is no doubt that the Hamriyah Free Zone is the ideal choice for direct foreign investment, due to our continuous investment in developing the zone’s infrastructure in order to meet the logistics demands of both small and large enterprises,” Saud Salim Al Mazrouei, director of Hamriyah Free Zone Authority, said.
The terminal is expected to be operational in early 2020.
It will consist of 23 above ground vertical atmospheric storage tanks of various capacities, with a cumulative nominal capacity of 178,646 cubic metres.
SRS, a joint venture that consists of Global Petro Storage (GPS), Innova Refining Industries, and Chemie Tech, will receive and dispatch gas, oil, gasoline, naphtha, fuel oil, crude condensate oil, bitumen, and several petrochemical products from the inner and main harbours, the statement added.
It will also load and unload trucks via a dedicated facility within the terminal.
“We also offer a wide range of competitive services and benefits that simplify operations, in addition to our constant dedication to apply innovation to the services we offer to all companies operating in the free zone,” Al Mazrouei added.
