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FINANCIAL NEWS
Germany invests USD 5.6mn in Hamriyah Free Zone Project
21 Jun 2016
(MENAFN) Germany-based SOEX Group, a leading firm in the sector of marketing and recycling used textiles will start operations from Hamriyah Free Zone by 2017.
The firm has leased 322,917 square feet area in the free zone and will start construction work of the new plant as soon as possible.
Moreover, the company will invest USD 5.6mn for the project and will export 50 percent of its products to African nations and 25 percent to Eastern Europe and the MENA region.
In addition, this step will enable the firm to grow in the region and this development is another example of its efforts in empowering businesses paying off.
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