Hazel International FZE, owned by Veritas (India) Limited, is to invest US$126.45million to open a facility to provide complete end-to-end solutions for liquid and solid cargo handling at Hamriyah Free Zone Authority, HFZA.
The group performed its ground breaking ceremony yesterday attended by Saud Al Mazrouei, Director of HFZA, Saurabh Sanghvi, Group Director of HIF, and other top officials.
The terminal will have facilities to store chemicals, petro-chemicals, base oils, bitumen, vegetable oil, gases, liquefied gases, ethanol, bio-fuels and edible oils. Besides storage, the terminal will provide facilities like distillation, extraction, hydrogenation and fractionation.
HIF has granted 30,000 square metres of land in the tank terminal area of HFZA to develop the integrated petrochemicals and chemicals/handling and processing facility.
Hamriyah Free Zone houses 5,700 companies from across 155 nations, welcoming foreign investment from more than 500 industries in the key sectors of oil and gas, petrochemicals, maritime, steel, construction, and food.