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FINANCIAL NEWS
India’s Hazel opening USD126.45m terminal at HFZA
09 Sep 2014
(MENAFN) Indian HAZEL International FZE (HIF) will invest $126.45 million in opening a facility which will provide complete end- to -end solution for liquid and solid cargo handling at Hamriyah Free Zone Authority (HFZA), Arab News reported.
The terminal will have facilities to store chemicals, petrochemicals, base oils, bitumen, vegetable oil, gases, liquefied gases, ethanol, bio-fuels, and edible oils.
The terminal will also provide facilities like distillation, extraction, hydrogenation and fractionation, with HIF being awarded 30.000 square meters of land in the tank terminal area of HFZA for its terminal.
“We welcome Hazel International to our fraternity. Our goal is creating a robust business environment by meeting the needs and demands of its investors. Today HFZA has emerged as the second largest hub for petrochemicals, oil & gas bunkering and storage in the UAE,” The director of HFZA said.
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