The Hamriyah Free Zone Authority (HFZA) has added another industry leader to its investor base after the UAE’s Grankraft company, specializing in metal production for building iconic landmarks, inks an investment deal.
The company has leased approximately 30,007 sqm plots of land, with an investment value of $5.3 million (AED 22 million) in the first phase, and $10.8 million (AED 45 million) in the second phase, bringing the company’s total investment to $16.1 m (AED 67 million).
This came during the signing of a Memorandum of Understanding (MoU) by Saud Salim Al Mazrouei, Director of the Hamriyah Free Zone Authority, and J. George, Director of Grankraft, in December 2021 at the presence of officials from both sides.
Saud Salim Al Mazrouei said, “HFZA always strives to attract companies offering the best services and creative solutions in diverse sectors such as manufacturing and construction technology.”
J. George, Director of Grankraft underlined that his company is always looking for new ways to develop its services so that it can implement iconic landmarks and projects, adding that “Grankraft is on the cusp of a new phase with its investment in Hamriyah Free Zone and taking advantage of its strategic location and outstanding services.