Hamriyah Free Zone Inks Agreement with Infinite Mining & Energy; New Multifunctional Oil Refinery in the Offing

Infinite Mining & Energy to Lease a 200,000 sqft plot of land to establish an oil refinery with annual refining capability of up to 3.6 million barrels. Al Mazrouei: HFZA sets benchmark with strong ROI, serving as an ideal hub for essential projects and significant contributor to national economy Merchant: New investment plan aligns with the expansion strategy leveraging the HFZA’s location for direct interactions with key manufacturers and broad access to regional and global markets.

The Hamriyah Free Zone Authority (HFZA) has cemented its leading position and appeal for investment in the oil and energy sector following a deal with an Indian company Infinite Mining & Energy. Infinite announced that is going to double its investment in the free zone and establish a multifunctional oil refinery. The new facility will have a daily production capacity of 10,000 barrels and an annual refining capability of up to 3.6 million barrels.

H.E. Saud Salim Al Mazrouei, Director of the HFZA; and Bilal Merchant, Managing Director of Infinite Mining & Energy FZE; signed an agreement at HFZA headquarters in the presence of senior officials from both sides.

Under the agreement, Infinite will lease a 200,000 sqft plot of land in the free zone to build its facilities. This expansion is expected to significantly increase the company’s storage capacity, catering to the growing demand for its services and products. The Infinite’s strategic decision to expand in the free zone comes as no surprise. HFZA is known for providing integrated solutions for exploration, production, and refining projects.

Moreover, the free zone serves as a prosperous hub for regional and international companies specializing in the oil industry. 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.

Leading position

Speaking on the occasion, H.E. Saud Salim Al Mazrouei said Infinite’s new expansion plans demonstrates HFZA’s leading reputation as a preferred investment destination for heavy industries and the petrochemical sector. “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,” he said.

Al Mazrouei added, “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.”

Elaborating further on the strategic decision of Infinite Mining & Energy, Al Mazrouei said the company’s choice of Hamriyah Free Zone to establish a multifunctional oil refinery underscores the high global standards and the favorable investment climate HFZA offers to investors in the energy and oil sectors.

“As of today, the free zone houses over 1,200 companies, including major international corporations specializing in this sector. They operate within a dedicated area for petrochemical industries, which boasts a strategic location and is connected to a commercial port with a depth of 14 meters.”

“This strategic positioning supports import and export operations for our investing companies, offering easy access to major markets. Coupled with our range of distinguished services, state-of-the-art infrastructure, world-class logistics services, and facilities, we have grown to become the second-largest petrochemical center in the country,” Al Mazrouei added.