Italy's Raccortubi S.p.A. Expands Operations With AED 25 Million Investment In Hamriyah Free Zone

Italy's Raccortubi S.p.A. has launched a new warehouse in the Hamriyah Free Zone Authority (HFZA), covering 20,000 square feet. This AED25 million (US$6.8 million) facility is part of the company's expansion into the Middle East. It aims to support regional oil and gas projects by utilising HFZA's strategic location and advanced infrastructure to access global markets.

The opening ceremony was attended by Saud Salim Al Mazrouei, Director of HFZA, Marco Pollastrini, Group CEO of Raccortubi S.p.A., and other HFZA officials. They toured the warehouse, which features state-of-the-art logistics operations and advanced transportation equipment designed to enhance efficiency in product storage and distribution.

Raccortubi S.p.A., a subsidiary of Italy's Commerciale Tubi Acciaio, has been operating in the UAE since 2013. The company is a global leader in producing pipes and fittings made from stainless steel, duplex, super duplex, Ni alloy, titanium, and more. This new facility marks a significant step in their Middle Eastern expansion strategy.

Al Mazrouei highlighted that this investment reflects the diversity of foreign investments that Hamriyah Free Zone aims to attract. This aligns with the vision of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah. "We are committed to making every possible effort to support Sharjah's economic diversification plans and reinforce its standing as a global investment destination for major industrial projects."

Al Mazrouei also pointed out that Hamriyah Free Zone offers an integrated package of services that provides competitive advantages for investors. Its strategic location and comprehensive logistics services connect manufacturers to over 3.5 billion consumers worldwide, making it an attractive destination for diverse investments.

This development underscores HFZA's ongoing success in attracting international industrial leaders like Raccortubi S.p.A., further solidifying its reputation as a hub for global business activities.

With inputs from WAM