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Halliburton signs lease agreement with HFZA

The Hamriyah Free Zone Authority (HFZA) in Sharjah has entered into a strategic agreement with Halliburton, which will establish a new facility for calibrating drilling tools used in the oil industry. HFZA will lease an area of more than 1 million ft to Hailliburton, following an agreement signed by Sheikh Khaled bin Abdullah Al Qasimi, Chairman of Sharjah Ports, Customs and Free Zones Authority, and Lance Loeffler, Halliburton’s MENA Region Senior Vice President, in the presence of Saud Salim Al Mazrouei, Director of the HFZA.

Loeffler said: “We are excited to locate our new drilling tool calibration facility in the HFZ. The state-of-the-art facilities, advanced communications and transportation network, and logistics services allow this innovative facility to deliver leading technological solutions to our clients in the MENA region.”

Sheikh Khaled stressed that the free zone is committed to realising the vision of His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. “Functioning as a global gateway for launching industrial projects, the Hamriyah Free Zone has excelled in its mission to drawing in heavy industries, including those within the oil and energy sector. This accomplishment underscores the free zone’s commitment to facilitating investors’ seamless access to comprehensive logistics services, thereby fostering a supportive environment for business growth,” he added.

In another significant win for HFZA, Ikigai Steel has announced it will establish a new factory in the Free Zone , stretching over an area of 548,000 ft2. This will have an annual production capacity of 30,000 tonnes, and is to be backed by an estimated initial investment of AED 30 million. The company plans to manufacture high-quality steel and steel products for the local and regional markets, including Saudi Arabia and Qatar.

The post Halliburton signs lease agreement with HFZA appeared first on Latest Maritime & Shipping News Online – The Maritime Standard.

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