DBMT to set up facility in Hamriyah Free Zone

2/2/2016 7:20:57 AM

(MENAFN- Emirates News Agency (WAM))

SHARJAH 2nd February 2016 (WAM) -- The UAE-based Dayal Building Material Trader Limited DBMT is to begin operations from Hamriyah Free Zone from March 2016.

Saud Salim Al Mazrouei Director of Hamriyah Free Zone Authority HFZA and Sharjah Airport International Free Zone SAIF Zone and Dinesh Moorjani Managing Director of DBMT signed a lease agreement on Tuesday.

"We have leased 55000 square meters of land in the Phase 2 area. We will start logistics and storage facilities operations by March this year and will open the steel fabrication facility by 2017. We have plans to invest AED 20 to 25 million for this project" Moorjani said after the signing ceremony.

With a strong presence in the GCC DBMT the UAE's leading structural steel distributor covers all of the key steel markets like Oman Kuwait Bahrain Qatar United States and Europe.

"We welcome DBMT to our fraternity. Our goal is to create a robust business environment by meeting the needs and demands of our investors" said Al Mazrouei.

"In the steel industry HFZA is one of the market leaders in the Middle East. The regional industry consists of fabrication yards and engineering workshops and thus the steel industry is very important to Hamriyah Free Zone. We have been developing this sector for over a decade and today a number of well-established steel firms are operating within our zone" Al Mazrouei explained after singing the contract.

DBMT has been successfully catering to the needs of structural steel in the Middle East since 1981 with over 150000 metric tons group annual turnover across the GCC. DBMT also has manufacturing facilities in Jebel Ali Free zone.

Elaborating on the business Moorjani said "We supply steel mainly to the oil and gas sector as well as EPC contractors steel fabricators and contracting companies. This new facility will provide easy access to all the emirates as well as international markets due to the strategic position of Hamriyah Free Zone in the UAE.

WAM/Ahlam/Moran

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.