Emirate Business reported that at least 1,500 new companies from a range of industrial sectors are expected to start operating at Hamriyah Free Zone in 2009. And the authority that runs the zone in Sharjah also plans to build a maritime city there as well as an area dedicated to small and medium enterprises.

Mr Rashid Al Leem director general of Hamriyah Free Zone Authority said that "The maritime city is the latest addition to the zone's specialized industrial areas. Currently there are zones for oil and gas industry, perfumes, construction, timber and steel. Three quarters of the inner harbor work is complete and we expect about 100 companies from around the world to set up premises. There will be facilities for ship maintenance and repairs, oil rig manufacturing and other maritime industries."

He added that "We have already invested AED 450 million in developing 800,000 square meters of infrastructure for the maritime city. The maritime industry is a capital intensive sector and we expect about 100 companies from the maritime industry to have a presence in the maritime city. There is lot of interest from around the world in the maritime sector. The shipping industry will be looking for consolidation and alliances."

Mr Al Leem also informed that "Hamriyah Free Zone has attracted AED 7.4 billion in investment from 3,500 companies from 120 countries. With the second phase we expect the total investment to reach AED 11 billion.

He also noted that "Major companies like Essar of India and Modern steel have ambitious projects in the steel city. So far there has been no change in their investment plans."

The phase II expansion of Sharjah Hamriyah Free Zone, which will cover 10 million square meters, is located opposite the road facing phase I. About 70% of land in the Hamriyah Free Zone phase II has been leased out to big clients because investors are in a hurry. The new inner harbor work is progressing; Sharjah Hamriyah Port will be able to receive Panamax ships. An increasing number of ships are built precisely to the Panamax limit, in order to transport the maximum amount of cargo in a single vessel. Much bulk merchandise, such as grain products, is moved primarily on Panamax ships.

(Sourced from www.emiratesbusiness.com)