KARACHI, Oct 12: More than 40 Pakistani companies are operating in the Hamriyah free zone (HFZ) in Sharjah to market their products to Gulf countries, Central Asian Republics and East Africa.

This was stated by the visiting director general of the HFZ, Engr Rashid Al-leem, while speaking at a press conference here on Sunday. The capital commitment on these contracts had increased to $1 billion, he added.

“We want to attract more Pakistani companies especially in large manufacturing sector as the HFZ was geared up to attract heavy industries to set their base in the free zone”, he added.

He said a seminar will be held in this regard in Karachi on Monday where potential Pakistani investors would be persuaded to invest in the HFZ.

He said the zone had already attracted 350 companies from 52 countries specializing in petrochemicals, bulk grain storage, oil blending, soybean crushing and flour mill.

He pointed out that the zone was offering tax-free investment and 100 per cent ownership with modern infrastructure facilities, including 150 megawatts power station, telecommunication, road network, etc.

Mr Al-leem said the zone had a prime industrial and commercial land over 12 million square meters linked to a 14-metre deep water port with a 250-metre long general cargo berth and a similar one for petrochemicals.

He said the zone offered a hassle-free business environment with abundant energy and inexpensive cost.

He said the HFZ had offered its expertise to 10 countries, including Russia, Sudan and several Arab nations, to develop free zones in their territories.— APP