Aria Commodities, a specialist in storage infrastructure development and asphalt and distillates, has recently announced an investment of nearly Dh154 million ($41 million). These funds will be used for constructing four plants in the Hamriyah Free Zone, including a Bitumen plant, a tire cycling plant, a refinery, and a storage terminal.
Additionally, Aria has announced that it would be leasing three more plots of land in the free zone, bringing the number of acquired plants to 5. The total area of these plants measures 540,000 sq. ft.
According to sources, Aria’s new expansion plan was disclosed during a ceremony held recently for signing a lease agreement between Mirat Bhadlawala, CEO for the Energy Business & Chief Optimization Officer for ARIA Group and Hamriyah Free Zone Authority (HFZA) director Saud Salim Al Mazrouei. Many senior officials from both the parties also attended the ceremony.
The new initiative is anticipated to strengthen HFZA's position as a top option for companies wishing to base their operations in a vibrant market with simplified procedures.
For the uninitiated, Aria Group's industrial base, situated at the HFZA, was established in February 2021.
The four new facilities are intended to comply with sustainability standards and the best possible use of natural resources. They will contribute to the organization’s dedication towards renewable energy and play a vital part in the UAE's aim of reaching Net Zero emissions by 2050.
Al Mazrouei, while praising Aria’s expansion plans, stated that the new investment will not only augment the sustainability standards in Sharjah, but also bolster the UAE’s efforts in amplifying its global standing and adopting the concepts of a circular economy.
In addition, its investments will support Sharjah's strategy to create products, services, and solutions that promote sustainable growth and move the region's economy closer to prosperity.
Source credit - https://www.khaleejtimes.com/business/aria-commodities-announces-dh154-million-investment-projects-in-hamriyah-free-zone