Petrozo Energy, a leading Singapore-based oil and gas company, announced an ambitious plan to establish a new manufacturing facility in Sharjah’s Hamriyah Free Zone, spanning over 430,000 square feet.
The new plant will be set up with an estimated investment of AED120 million.
A Memorandum of Understanding (MoU) on the proposed facility was signed by Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority (HFZA), and Randhir Bansal, Chairman of Petrozo Energy.
The state-of-the-art facility is projected to have a substantial monthly output capacity of 6,000 metric tonnes, equating to an annual production of approximately 72,000 metric tonnes.
The expansion is expected to secure the company a 15 percent share of the total market production.
Petrozo Energy Group, with its headquarters in Singapore, operates a global network with offices across Indonesia, India, Thailand, the UAE, Hong Kong, Myanmar, Bangladesh, the Philippines, the USA, and Vietnam.
The company is renowned for its extensive portfolio, producing a variety of products including fuel oils, petrochemicals, bitumin (asphalt), naphtha, and waterproofing materials, catering to a diverse range of industries worldwide.
Tarique Kamal said choosing HFZA as a base for Petrozo Energy’s new facility aligns perfectly with the company’s strategic vision to cater to its clientele in the UAE, the Middle East, East Africa, and Southeast Asia.
“Our decision was propelled by the growing demand for the company’s high-quality and efficient products,” he said.
“The Hamriyah Free Zone offers numerous competitive advantages that would position us closer to our global customer base. Its strategic location, ease of business operations, and modern infrastructure are perfectly suited to our needs, enabling seamless access to regional and global markets and facilitating connections with customers worldwide,” he added.
Petrozo Energy’s fresh investment in Sharjah highlights the emirate’s growing appeal for foreign direct investments and further cements its status as a pivotal hub for expanding into regional and international markets.
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