Eversendai inks lease agreement with Sharjah’s Hamriyah Free Zone

Eversendai Engineering Group has signed an investment agreement with Sharjah’s Hamriyah Free Zone Authority as part of its expansion plan.

Under the terms of the deal, Eversendai will expand its leased space in the free zone by 12ha (1,301,572 square feet). The company currently leases 21ha (2,272, 993 square feet) in the area.

Eversendai is seeking to increase its annual steel production as part of its efforts to establish a presence in the oil and gas sector, UAE state news agency, WAM, reported.

Saud Salim Al Mazrouei, director of Hamriyah Free Zone Authority (HFZA) and Sharjah Airport Free Zone Authority (SAIF Zone), commented: “HFZA is keen to diversify investments in the free zone to promote economic exchange within investors which will contribute to the revitalization of all industries in the long run.”

HFZA aims to balance attracting new investors and the expansion of existing investors by providing a favourable business environment that contributes directly to the success of each investment project, added WAM.