The UAE’s Grankraft company will now invest in the Hamriyah Free Zone Authority, according to an MoU signed between the two parties, said local sources.
Grankraft is said to specialize in metal production for building landmarks, and has leased approximately 323,000 sq ft plots of land, with an investment value of AED22 million ($5.99 million) in the first phase and AED45 million ($12.25 million) in the second phase, bringing its total investment in Hamriyah Free Zone Authority to AED67 million ($18.24 million).
The MoU was signed by Saud Salim Al Mazrouei, Director of the Hamriyah Free Zone Authority, and J George, Director of Grankraft, in the presence of officials from both sides, local media said.
Salim Mazrouei was quoted by local reports as saying, “Hamriyah Free Zone always strives to attract companies offering the best services and creative solutions in diverse sectors such as manufacturing and construction technology.”
He remarked: “This is in line with Sheikh Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, so as to strengthen the emirate’s position as an incubator for advanced technologies in the industrial sector and new innovations.”
George underlined that his company was always looking for new ways to develop its services so that it can implement iconic landmarks and projects.
He added: “Grankraft is on the cusp of a new phase with its investment in Hamriyah Free Zone and taking advantage of its strategic location and outstanding services.”
