Dubai: Sharjah’s Hamriyah Free Zone will host a high-profile investor – UK’s ArcelorMittal Group owned by the steel tycoon Lakshmi Mittal. The top global steel manufacturer recently acquired the assets of a pipe and coating mill located at the free zone.
Besides the acquisition, ArcelorMittal Projects leased 1.38 million square feet of Industrial land. Under an agreement signed between the company and the Hamriyah Free Zone Authority (HFZA), ArcelorMittal will provide steel products via three specialized and project-related business lines: foundation solutions, Solar Projects, and Energy Projects, in addition to water transmission pipelines and for infrastructure.
“Such a move encourages other investors to launch new vital projects in the near future, especially now that the UAE is moving rapidly towards economic recovery,” said Saud Al Mazrouei, Director of HFZA, who added that Sharjah has cemented its position as a favored regional investment and economic destination. He further stated that attracting ArcelorMittal Projects was a step towards realizing the requirements of the UAE’s industrial strategy.
Alongside production, ArcelorMittal Projects Middle East also offers anti-corrosion coating of external and internal pipe surfaces according to international technical specifications and standards, with a capacity of 1.5 million square meters per annum. The coating facility is an added advantage that enables Projects Middle East to offer its customers value-added services in the utility and energy sector.
Johannes De Schrijver, CEO of ArcelorMittal Projects, said Sharjah’s strategic location and the privileges offered by HFZA was a major catalyst for ArcelorMittal Group to set up its new plant in the region.