Signs agreement to lease a 323,000sqft plot for the construction of a US$ 6.8mn plant
Trend Industries, specialists in the field of specialized fabrication, has announced plans to invest AED 25mn (US$ 6.8mn) in the construction of a new production facility in the Hamriyah Free Zone.
According to the company’s new expansion strategy, Trend Industries will scale up its production capacity from 3,600 tons/year to 8,400 tons/year, which will further strengthen Sharjah’s position as a global leader in steel fabrication according to a press communique.
This was announced during a ceremony held recently to sign a lease agreement between Hamriyah Free Zone Authority (HFZA) and Trend Industries.
Saud Salim Al Mazrouei, Director, Hamriyah Free Zone Authority, and Neeraj K Sharma, CEO, Trend Industries, signed the partnership agreement in the presence of senior officials from both entities.
According to the agreement, the steel fabrication company would lease 323,000sqft of land to build its new factory.
In addition to storage tanks, air receiver tanks, pressure vessels, heavy structure fabrication & installation, chiller plant skids, the facility also produces flatbed & container trailers, crane-mounted trailers for cargo bodies and blocks, and frame trailers, among others.
For his part, Neeraj Sharma said that HFZA has significantly supported the company in accelerating its growth and achieving its vision of becoming a leading manufacturing company in the Middle East by expanding 3Ms – Men, Material, and Machinery.
Want to stay updated on the latest industry news and trends? Subscribe today to receive your monthly news highlights directly in your inbox!