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HFZA Participates In SteelFab Sharjah











Hamriyah Free Zone Authority (HFZA) has participated in the 11th SteelFab, the region's premier metal working, metal manufacturing and steel fabrication trade fair, that concluded today at Expo Center Sharjah.

The four-day event, which was opened by Sheikh Khalid Bin Abdullah Bin Sultan Al Qassimi, Chairman of Sharjah Sea Ports and Customs, Hamriyah Free Zone Authority (HFZA) and Sharjah Airport International Free Zone (SAIF Zone), attracted over 350 direct exhibitors.

"Hamriyah Free Zone attends exhibitions locally and internationally in order to network and build connections. SteelFab is the best platform to meet regional and international players from Sharjah itself and this time, we met trade visitors and investors from Italy, Germany, Taiwan, Turkey, India and China in addition to investors from local market and GCC," said Saud Salim Al Mazrouei, Director of HFZA and SAIF Zone.

Since the country is targeting to double the contribution of the industrial sector to its GDP in the next five years from the current 10-11 per cent, steel fabrication industry will be one of the key focus areas of this new push. Hamriyah Free Zone has been a key contributor to the region's steel industry with many well-known firms," he further added.

"The regional industry consists of fabrication yards and engineering workshops 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," said Hamad Al Shamsi, Head of sales, HFZA According to the latest industry reports on the GCC construction market, Saudi Arabia continues to have the highest market share of 44.3% with projects valued at $1.1 trillion. The UAE is in the (omit the) second place at 30.3 per cent with a US$717.7bn project value, and Qatar has projects worth $270.1bn, accounting for 11.2 per cent. While this takes into account all the projects that are currently under way, the volume of announced and planned projects in the UAE in 2014 alone is expected to be valued at $315bn, with the government announcing a number of major development projects and stepping up spending on social infrastructure development.
 

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