Petrozo Energy Invests AED 120 Million In New Sharjah Facility, Eyes Middle East And Africa Markets

Petrozo Energy, a prominent oil and gas company headquartered in Singapore, has recently made headlines with its announcement to set up a new manufacturing facility in the Hamriyah Free Zone, Sharjah. This move comes after a Memorandum of Understanding (MoU) was signed between Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority (HFZA), and Randhir Bansal, Chairman of Petrozo Energy. The ceremony also saw the presence of Tarique Kamal, CEO of Petrozo Energy, Pramod Kumar, COO of Petrozo Energy, and other key officials from both entities.

The new facility, sprawling over 430,000 square feet, represents an investment of AED 120 million by Petrozo Energy. It is projected to significantly boost the company's production capacity with an estimated monthly output of 6,000 metric tonnes, translating to an annual production rate of approximately 72,000 metric tonnes. This expansion is poised to secure Petrozo Energy a 15% share in the total market production.

Petrozo Energy's global presence spans across Indonesia, India, Thailand, the UAE, Hong Kong, Myanmar, Bangladesh, the Philippines, the USA, and Vietnam. The company boasts a diverse portfolio including fuel oils, petrochemicals, bitumin (asphalt), naphtha, and waterproofing materials. Its products serve a wide range of industries worldwide.

Saud Salim Al Mazrouei emphasized that Petrozo Energy's decision to expand its operations to Sharjah underscores the emirate's commitment to creating an investment-friendly environment. This aligns with the strategic vision of H.H. Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. Al Mazrouei also highlighted HFZA's role in offering advanced facilities and infrastructure that enable businesses to access major global markets easily and support a robust industrial and manufacturing sector.

Tarique Kamal pointed out that the choice of HFZA for Petrozo Energy's new facility aligns with the company's strategic vision to cater to its clientele in the UAE, the Middle East, East Africa, and Southeast Asia. The growing demand for the company's high-quality and efficient products was a key factor in this decision.

The Hamriyah Free Zone offers numerous competitive advantages including its strategic location, ease of business operations, and modern infrastructure. These features are perfectly suited to meet Petrozo Energy's needs, enabling seamless access to regional and global markets and facilitating connections with customers worldwide.

Contributing to the National Economy

Petrozo Energy's investment in Sharjah not only highlights the emirate's growing appeal for foreign direct investments but also cements its status as a pivotal hub for expanding into regional and international markets. Pramod Kumar stated that Sharjah's strategic location combined with HFZA's advantageous positioning near Hamriyah Port offers unparalleled export and import facilities for the oil, gas, and petrochemical sectors. This not only strengthens the emirate’s industrial base but also significantly contributes to the national economy.

In summary, Petrozo Energy's new manufacturing facility in Sharjah is set to bolster its production capabilities while contributing to the growth of the UAE’s industrial sector. The strategic move reflects both Petrozo Energy’s ambition for expansion and Sharjah’s commitment to fostering a conducive environment for international investments.

With inputs from WAM