The Hamriyah Free Zone Authority (HFZA) and Sharjah Airport International Free Zone (SAIF Zone) recently inaugurated a new $100 million petroleum storage terminal of Sharafco Group at Hamriyah Free Zone’s first phase.
“Due to our excellent facilities and services, several companies within the Free Zone have expanded their operations which just reinforce the fact that Hamriyah Free Zone is the ideal hub. We work closely with all government departments to give investors the right platform to conduct their businesses,” said Saud Salim Al Mazrouei, director of HFZA, who opened the facility.
“Hamriyah Free Zone has always had a reputation as a logistics centre for the upstream oil and gas industry – a chief hub for the Gulf service sector.”
With 16 storage tanks, the new petroleum storage terminal has a capacity of 80,000 cubic meters. It is equipped with sophisticated equipment, instruments with a high rate of pumping capacity and has a wide berth as well. Sharafco Petroleum FZE is one of the leading physical supplier, marketer and manufacturer of petroleum & fuel products in the local market.
“This $100 million petroleum storage terminal is our first step towards the international market. We have been active in the local market for the last 15 years and we want to venture into the international market”, said Sharfudheen Mohammed, Sharafco Group Managing Director and CEO.
“The starting of operations at the Sharafco Petroleum Terminal reflects Sharafco’s strength and determination to continue our ambitious growth plans into the international market. We believe that the bold investment program we have put in place will strengthen our position in the international terminal market. We are confident that, with continued support from Hamriyah Free Zone Authority and our staff, we will achieve our ambitious goals.”
Sharafco further announced that their prime interest is to lease out the tanks and terminal on a contract basis; mainly to multinational companies across the globe.
The Sharafco Group is engaged in delivering comprehensive products in the oil industry, which constitutes trading and manufacturing of petroleum products & petroleum related engineering products.
The terminal has facilities to store gas oil, base oil and fuel oil, a statement said.
The distinctive two pipe lines of 12 inches from the deeper harbour and another three separate pipe lines of 8 inches each from the inner harbour, combined with bunkering pits having advanced pigging equipment for each harbour allows the tank farm to attain optimum logistic activities and also ensures the optimization of 100 per cent product quality, the statement added.