In a move that reflects the efforts of the Hamriyah Free Zone Authority in the Emirate of Sharjah to enhance its growing position as a preferred regional and global destination for quality investments and iron and steel companies in particular, Ikigai Steel Company announced that it is taking the free zone as the center of its activity, by establishing a factory on an area of 548 thousand square feet. Square, with a production capacity of up to 30,000 tons annually, with manufacturing scheduled to begin in March 2024.

This came during the signing ceremony of a cooperation agreement between the company and the free zone. The agreement was signed by Saud Salem Al Mazrouei, Director of the Hamriyah Free Zone Authority, and Rajendran, Chairman of the Board of Directors of Ikigai Steel, in the presence of a number of officials from both sides.

The new factory comes as part of a long-term plan adopted by Ikigai Steel to target customers and suppliers in the local, regional and global markets, especially since the factory is equipped with the latest global solutions and technologies in the iron and steel industry sector, with investments estimated at approximately 30 million dirhams in its first phase.