India’s Infinite Mining & Energy doubles investment in Hamriya Free Zone facilities
Infinite Mining & Energy (Infinite) has signed an agreement to lease a 200,000 sq ft plot of land in the Hamriya Free Zone Authority (HFZA) to establish a multifunctional oil refinery that will have a daily production capacity of 10,000 barrels and an annual refining capability of up to 3.6 million barrels.
Infinite is going to double its investment in the free zone and this expansion is expected to significantly increase the company's storage capacity, catering to the growing demand for its services and products.
H.E. Saud Salim Al Mazrouei, Director of the HFZA said that Infinite’s new expansion plans demonstrates HFZA’s leading reputation as a preferred investment destination for heavy industries and the petrochemical sector.
He continued, “Infinite’s new facility will be a significant addition to the emirate's burgeoning economic landscape through its production volume, which caters to the demand for energy products and derivatives for both existing and future industrial projects. This also reinforces HFZA’s appeal and significance in the oil, energy, and various other sectors, a testament to our commitment to the visions and directives of His Highness Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, which have transformed the free zone into a role model, showcasing a strong return on investment and an ideal environment for establishing key projects, thereby becoming a vital contributor to the national economy. "
HFZA is known for providing integrated solutions for exploration, production, and refining projects. The free zone serves as a hub for regional and international companies specializing in the oil industry.
Bilal Merchant, Managing Director of Infinite Mining & Energy FZE, said, “Infinite began operations in the Hamriya Free Zone in 2018, and our plans to set up a multifunctional oil refinery, alongside a modern oil storage facility equipped with over 20 loading slots, is a testament to our strategic expansion to broaden our reach in both regional and international markets. “HFZA’s strategic geographical location aligns perfectly with our company's specialties in the petrochemical, metallurgy, and energy sectors, enabling us to maintain direct interactions with leading manufacturers both locally and globally."
With an ideal business environment and a system of exceptional services and benefits, HFZA continues to stand as a prominent industrial base for international companies in the sector. This latest investment by Infinite further underscores HFZA’s success in attracting key players in the oil and energy industries.
