SHARJAH, 2 February 2006 — Al-Ruya Industry Chairman Prince Talal ibn Badr signed an agreement with Hamriyah Free Zone Chairman Sheikh Khaled ibn Abdullah ibn Sultan A1-Qasimi for establishing a cement plant with an estimated capital of 1.5 billion UAE dirhams and 3.6 million tons annual capacity.
The project is considered one of the largest of its kind in the Middle East. The contract was signed in the presence of Project Director Mowafuq Fahd A1-Sunaid, Sharjah Chamber of Commerce & Industry (SCCI) Chairman Ahmed A1-Midfa, SCCI Director General Saeed Obeid Al-Jarwan, Sharjah Ports Director General Issa Al-Mutawa, Sharjah Customs Director General Abdel Hakeem A1-Suwaidi and Hamriyah Free Zone Director General Dr. Rashid Al-Leem.
Addressing a press conference at the signing ceremony, Prince Talal expressed his appreciation and gratitude to Supreme Council Member and Sharjah Ruler Dr. Sheikh Sultan ibn Mohammed A1-Qassimi, Crown Prince and Sharjah’s Vice-Ruler Sultan ibn Mohammed ibn Sultan A1-Qassimi and all concerned officials in Sharjah in general and Hamriyah Free Zone (HFZ) in particular for their cooperation. “This reflects on the long-standing vision of the leaders of Sharjah to carry the emirate toward excellence in service and quality,” he said. The emirate has been selected due to its unique and strategic location in the Gulf and the facilities and services that HFZ provides to its investors.
Prince Talal lauded the efforts of HFZ Chairman Sheikh Khaled ibn Abdullah ibn Sultan A1-Qasimi and HFZ Director General Dr. Rashid A1-Leem in making the project possible. He congratulated A1-Sunaid for his effective contribution toward this project. He also applauded the role played by KPMG in producing the feasibility study of the project and HolTech for the technical study. The support of the project coordinator, Alliance Auditing and Accounting, was praiseworthy, he added. A1-Ruya has leased one million sq m of land in the HFZ for establishing its new plant. The 25-year lease is renewable further.
Prince Talal added that the rise in local and foreign investments had brought about a boom in the construction industry, which has paved way for a rise in the demand for cement. Recent studies and reports estimate that the investment in sectors such as infrastructure, construction and real estate development for the coming three years will be around $8 billion.
A1-Qasimi congratulated Prince Talal on this strategic project and said it would undoubtedly lead the emirate toward progress. He also promised the support and cooperation of HFZ in the successful implementation of the project. “The role played by HFZ in Sharjah’s commercial and industrial development is commendable,” he added.
The HFZ chairman confirmed that the facilities and services offered by the zone and its unique location had attracted numerous large modem industries to the zone. “The HFZ plays a prominent role in building the Middle East economy,” he said.
The HFZ director general said the zone offered all facilities required by Al-Ruya Industry to implement this project, which is considered the biggest ones in the region. “ HFZ is the fastest growing zone in the Middle East and has more than 1,100 companies representing 87 countries in the world,” he said, adding that the zone had attracted major industrial, commercial foreign investments in the past and has contributed immensely in supporting the national economy.