Sharjah24:The Sharjah Airport International Free Zone (SAIF Zone) has further secured its leadership as a global investment hub after concluding an investment deal with Concord Enviro FZE, an Indian company operating in the treatment and recycling of industrial wastewater and seawater desalination.
Under this agreement, the Indian company will lease additional 130,000-sqft plots of land to set up new facilities to cope with the increasing demand of the local and regional markets for the latest industrial wastewater recycling products produced by the company in multiple sectors, including pharmaceutical industries, textiles, distillation industries, tanneries, steel industries, yeast, paints, dyes, cement, food and beverages, paper, electrical industries, and others.
The deal was signed by HE Saud Salim Al Mazrouei, Director of Sharjah Airport International Free Zone, and Cap. Suresh Bhatia, CEO of Concord Enviro, in the presence of officials from both sides.
The deal is yet another testament to the outstanding position of SAIF Zone as one of the region's most important and competitive investment hubs with its outstanding success in attracting direct foreign investments.
Strategic investments
Commenting on the deal, Saud Salim Al Mazrouei said: “We, at SAIF Zone, attach special importance to such strategic investments due to its significance in the national plans and strategies.”, underlining that Concord Enviro’s decision to expand its business at SAIF Zone clearly reflects the efforts being made to provide distinguished services to investors, stressing the Zone’s commitment to helping enhance the success and growth of such companies that provide sustainable solutions and preserve natural resources, which is a key pillar of the future of the UAE economy.
Al Mazrouei added: “The growing demand by international companies whether to start or boost their investments in Sharjah FZEs confirms the success of the emirate's strategies to create an appropriate environment for business growth and success. This is pursuant to the directives of HH Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the UAE Supreme Council and Ruler of Sharjah, to cement Sharjah’s status as a perfect destination for global enterprises, thereby bolstering the emirate’s economic diversification plans and sustainable development process.
“We make every effort to provide a growth-stimulating environment to the companies that offer creative and innovative solutions, and we trust that our services and facilities will help these companies achieve the qualitative addition they are looking to in serving their customers in regional and global markets,” Al Mazrouei underlined.
Distinctive facilities
Lauding the distinctive facilities, support, and efforts exerted by SAIF Zone officials to make this deal happen, Cap. Suresh Bhatia stated that Concord Enviro has been operating in SAIF Zone since 2005 and today the company has opted to expand its businesses at SAIF Zone, thanks to its outstanding reputation and cutting-edge services, as well as its commitment to support the interests of investors.
Bhatia further said: “The GCC market is one of the pioneering markets in implementing sustainable solutions systems and preserving natural resources. Hence, we decided to kick off our operations and services at SAIF Zone in our efforts to penetrate Europe and other western markets along with our existing businesses in African, Southeast Asian, and Latin American markets.” He considered that his company’s products and technologies are helping the corporate clients comply with environmental, organizational, and social regulations for their various operations.
Founded in 1991 in India, Concord Enviro operates in 15 countries worldwide. The company, with its emerging Zero Liquid Discharge and Membrane Distillation technologies, intends to introduce its uniquely designed pay-per-use wastewater treatment model called ROSERVE in UAE and Middle East. Today, the Concord Enviro Group recycles 300 MLD of industrial wastewater daily.
SAIF Zone, the oldest, largest, and fastest-growing free trade zone in the Middle East, is famous for providing quality services in line with the forward-looking strategy of the UAE leadership, which has heavily invested in the country’s capabilities to transform it into a global business hub.
SAIF Zone delivers a host of incentives and privileges that every investor and businessman is looking for, particularly customs clearance, sophisticated infrastructure, state-of-the-art facilities with air-conditioned and furnished executive suites, pre-built warehouses in various sizes with adjacent office space, and lease lands for unrestricted private development.
The free zone's incentives also include 100% foreign ownership of businesses, 100 % repatriation of capital and profits, and 100 percent corporate or personal income tax exemptions, 100% import and export tax exemptions. This is in addition to 24-hour services, all licenses issued within one day, and a hotline that guarantees the availability of immediate manpower, equipment, shipment and customs clearance, 24/7 security and emergency services as well as labor accommodation within the zone.
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