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HFZA inks investment deal with ArcelorMittal DSTC FZE

·2-min read

SHARJAH, United Arab Emirates, October 22, 2021--(BUSINESS WIRE)--The Hamriyah Free Zone Authority (HFZA) has added another industry leader to its investors base after ArcelorMittal Projects, part of the ArcelorMittal Group, the world’s leading Steel and Mining company, recently acquired the assets of a Pipe & Coating Mill located at Hamriyah Free Zone and leased 1.38 million square feet of Industrial land.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211022005020/en/

Signing of the Memorandum (Photo: Business Wire)

The announcement was made during the signing of a memorandum of understanding (MoU) by HE Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority, and Johannes De Schrijver, CEO of ArcelorMittal Projects.

According to the agreement, the company shall provide complete, customized, and sustainable steel solutions and services via three specialized and project-related business lines: Foundation Solutions, Solar Projects, and Energy Projects (Anti-corrosion coating solutions), in addition to (Water Transmission Pipeline), Infrastructure (Sleeves, Construction).

Commenting on the agreement, Saud Salim Al Mazrouei said, "We are so proud to add another industry leader to our investors' base at HFZA. The presence of ArcelorMittal Group, the world’s leading steel company, constitutes a great asset to the industrial sector in the Emirate of Sharjah.

"Such a move encourages other investors to launch new vital projects in the near future, especially now that the UAE is moving rapidly towards economic recovery," Al Mazrouei added.

He stated that attracting ArcelorMittal Projects is a turning point in HFZA's directions towards realizing the requirements of the UAE’s industrial strategy.

"We are pleased to forge a long-term partnership with HFZA, through which we seek to provide the most cost-effective solutions. Our products are backed with the technical expertise of highly qualified people with an average experience of more than 15 years in HSAW/SSAW Pipe Manufacturing and Anti-Corrosion Coating," said Johannes De Schrijver.

De Schrijver added: "The HSAW/SSAW Pipes can be produced with a diameter ranging from 16" up to 100" and wall thickness starting from 6 mm to 25 mm with a capacity of 150,000 tons per annum. Pipes can be produced with lengths up to 36 m without circumferential weld. Longer pipes can be achieved by welding. We can provide pipes in all requested Steel Grades due to our worldwide network of coil producers.

#Ends#

video download link: https://we.tl/t-rdkHCsO3G2

View source version on businesswire.com: https://www.businesswire.com/news/home/20211022005020/en/

Contacts

For further information, please contact:
Majdi Ashour
Misbar Communications
00971551014522
majdi@misbar-me.com

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