The Hamriyah Free Zone Authority announced the joining of the “Arab and India Spaces” company to the group of companies investing in the Sharjah Food Complex project, “Food Park”, the first and largest integrated city of its kind for the manufacture and trade of foodstuffs, repackaging and packaging at the level of the Gulf and the Middle East and North Africa.
The company’s joining comes in a sign of the Authority’s increasing attractiveness and its importance as a starting point and expansion in the region’s markets, and in strengthening Sharjah’s position as an attractive destination for foreign investments.
The “Arab and India Spaces” investment in Hamriyah Free Zone includes the construction of 12 silos “warehouse”, to store grain with a capacity of 52,000 metric tons constructed on an area of 300,000 square feet, as this project is the first of its kind in the MENA region, as a warehouse Grains contain this amount that covers the consumption needs of the United Arab Emirates of legumes and lentils for a period of 6 months.
The announcement of the joining of the company came during a ceremony held on Thursday in the Hamriyah Free Zone, which was attended by Sheikh Khalid bin Abdullah bin Sultan Al Qasimi, Chairman of the Hamriyah Free Zone Authority, Saud Salim Al Mazroui, Director of the Hamriyah Free Zone Authority, and Harish Kumar Lal Tehilani, owner of the Arab and India Company Spices “, a number of senior officials and a crowd of businessmen and investors, and managers of departments on both sides.
Saud Salem Al Mazrouei stressed that joining the “Arab and India Spices” company, to the list of investors in the Hamriyah Free Zone, is a positive step towards supporting the food industry sector in the Emirate of Sharjah, and consolidating the role of this sector in the process of economic diversification, indicating that the company will achieve significant gains By taking advantage of a wide range of services and competitive advantages, which are provided by the free zone, which will enable it to focus on developing its investments and developing it to broader horizons.
Al Mazrouei pointed out that the Emirate of Sharjah has strengthened its position as a global destination for business, with the continued flow of foreign direct investment in various economic sectors, such as food industries, stressing that the wise guidance of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, member of the Supreme Council and Ruler of Sharjah, formed a milestone An important factor in attracting foreign investment to the emirate and enhancing its competitiveness.
For his part, Harish Kumar Lal Tehilani, owner of Arab and India Spices, said that the start of the project was very promising as the company’s investments in the United Arab Emirates after the opening of the new silos project rose from 350 million dirhams to nearly 500 million dirhams, achieving a growth of 43%. He pointed out that in the event that more of these silos and stores are constructed, it can be used to store a variety of commodities such as rice, wheat and grains, stressing that the markets of the Gulf Cooperation Council account for about 60% of the company’s operations and activities that specialize in processing, packaging and packaging of legumes. And that the UAE United Arab Emirates is the first market in the company’s activities, followed by the Kingdom of Saudi Arabia.