India's Radiant Group will start an oil distillation plant in Hamriyah Free Zone by the middle of next year. "We have leased 107,639 square feet of land in phase-two of Hamriyah Free Zone and the construction of our factory will start soon," Vibhor Gupta, Managing Director of Radiant Overseas FZC said after signing the lease agreement with Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority (HFZA) and Sharjah Airport International Free Zone (SAIF Zone). "We are going to invest US $10 million for the project. Construction work of the 60,000 metric-ton-capacity plant will start by the middle of September," he added. While welcoming the group to the fraternity, Al Mazrouei said: "It is pleasing to see more manufacturing units flocking to HFZ, which is surely a sign that we are progressing. I hope that Radiant's new initiative in HFZ will increase its output and expand its network. A number of new companies have been opening in Hamriyah Free Zone due to its strategic position and attractive offers and facilities. Our goal is to create a robust business environment by meeting the needs and demands of our investors." The group based in Maharashtra in India, has developed in-house operational and commercial expertise in oil distillation processes. It manufactures alternate petroleum products and refines used/waste lubricating oil. "This is a state-of-the-art process where recycled base oils of various grades are produced apart from fuel oil and gas oil. Our group has won awards for its excellence and it had a turnover of 21 million last year," Gupta added. He further said that potential customers can now ask for new product offerings, such as special solvents from Radiant Overseas, globally in paint industries, agro-industries and other sectors. "We chose Hamriyah Free Zone as our Middle Eastern base because Sharjah plays an important role with its strategic location between three continents, serving a growing market of 2 billion people. Moreover, we found that the free zone has a well-developed infrastructure and an environment suited for growth," he noted.
