Magnum Technology Center opens second UAE production facility in Hamriyah Free Zone

• Al Mazrouei: HFZA has become a major hub for oil and gas companies thanks to the shrewd vision of HH Sharjah Ruler
• John: The new facility to help MTC expand its specialty into other sectors such as renewable and electric modular buildings, and reach new markets

Sharjah: Magnum Technology Center (MTC), a world leader in the design and manufacture of complete equipment sets for well testing and production, managed pressure drilling and pressure drilling services, has inaugurated a new 345,000 square foot production facility in Hamriyah Free Zone.

The new plant is expected to increase MTC’s production capacity by 10% from its current 1,000 metric tons/year.

MTC’s second plant in the UAE was inaugurated by HE Saud Salim Al Mazrouei, Director of HFZA and Sajeev John, Vice President of MTC, in the presence of senior officials of HFZA and Managing Director Shibu David of MTC HFZA.

Shortly after cutting the ribbon, Al Mazrouei, accompanied by a number of HFZA officials, toured the new facility, which is staffed by 121 highly experienced employees and has strong engineering and manufacturing capability. manufacturing to meet the needs of the oil and gas industry. He was briefed on the latest techniques and solutions provided in the areas of well testing and production, sub-balanced drilling, managed pressure drilling and modular buildings.

With its state-of-the-art infrastructure and advanced logistics capabilities, Hamriyah Free Zone Authority has attracted the attention of many prestigious companies operating in the oil and gas sector around the world, especially those looking to expand their operations in promising markets that abound with growth opportunities in the energy sector.

It should be noted that the UAE is the world’s seventh largest producer of oil and had produced more than 4 million tons in 2020. The UAE is also the world’s tenth largest producer of gas. Therefore, the Sharjah-based Free Zone (HFZA) is committed to providing a unique investment environment that will drive all businesses to new heights of unprecedented growth and excellence through forward-looking policies and initiatives. ‘coming.

First investment destination

Speaking on the occasion, Al Mazrouei pointed out that HFZA has become an important hub for oil and gas industries. This would not have been possible without the wise vision of His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, who seeks to strengthen Sharjah’s position as a premier investment destination. , offering value-added services. to all investors.

“Driven by the vision of Dr Sheikh Sultan, HFZA has made it a priority to facilitate investors’ access to all basic needs, especially in the energy sector. As a result, we have developed a comprehensive system of state-of-the-art logistics and infrastructure services to drive business growth, including those operating in the oil and gas sector,” Al Mazrouei said.

“MTC’s new plant at HFZA will certainly be a great addition to other oil and gas companies operating in the free zone, in particular, and the UAE in general, simply because of its unique specialty and innovative services,” he added.

Al Mazrouei went on to say that the existence of the port of Hamriyah, which offers export and import services for oil, gas and petrochemical raw materials, as well as the fact that HFZA is strategically located in the middle of the markets most important energy sources in the world. , has resulted in more than 1,500 companies specializing in the petrochemical industry, oil and gas storage and bunkering, basing their operations in the free zone. In addition, we assign a combined service area to companies engaged in this sector, in particular.

main supplier

For his part, Sajeev John said: “Since we established our first production facility in the United Arab Emirates in 2010, we have aimed to become a major supplier to the global oil and gas industry by offering a range innovation of individual and packaged products designed and manufactured to the latest industry standards from stock or with advance delivery, thus improving our customers’ ability to bring their services to market on time.

“We chose HFZA in particular for many reasons. HFZA offers unique privileges and facilities to foreign investors and has extensive and varied experience in the traditional and renewable energy sectors. It is also one of the largest and most important free zones in the UAE, attracting huge investments in energy, especially oil and gas. It is home to major international companies operating in this sector. We are confident that our HFZA-based production facility will help us expand our business specialties into other sectors such as renewable energy, electric modular buildings and reach new markets in the Middle East, Africa and Europe” , added John.

In addition to offering industrial and commercial land, HFZA, the second largest free industrial zone in the United Arab Emirates, provides state-of-the-art infrastructure and modern facilities that bolster investors’ external expansion plans, especially in import and re-export, to the world. markets. It also offers innumerable competitive advantages, including one-stop operation that enhances performance efficiency and facilitates procedures for doing business, as well as multiple tax exemptions, repatriation of capital and profits, full foreign ownership of business and quick access to regional and global markets.

–Ends–

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Mustafa Taha
Miscommunications
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Miscommunications
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Mahmoud Suleiman
Miscommunications
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