Business

His Highness Sheikh Dr. Sultan Bin Mohammed Al Qasimi, Member of the UAE’s Supreme Council and Ruler of Sharjah, this week issued instructions to Bee’ah, Sharjah’s waste management and environment company, to build, what is expected to be, the largest waste-to-energy plant in the world. Bee’ah awarded British firm Chinook Sciences with a GBP 300 million (AED 1.8 billion) contract for ...

Air Arabia (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, has announced a record net profit of AED 498 million (US$ 136m) for the first nine months of 2014, increasing 46 percent compared with the same period last year. The company attributes this year’s success to the effectiveness of its business model and its hub ...

Hands Industries, a second hand clothes dealer and recycler based in the Sharjah Airport Free Zone (SAIF Zone), sells an average of 500 tonnes of recycled clothes per month, according to UAE’s The National newspaper. Sharjah has become a hub for recycling and waste management with the emirate’s own waste management company, Bee’ah, driving a zero-waste initiative to divert 100% ...

Sharjah-based plastics converter Alliance Plastics FZE is scaling up to meet the region’s growing demand for industrial plastic packaging products. The manufacturer plans to invest AED 15-20 million (US$ 4-5.5m) in a new state of the art factory unit on a 62,840 square foot (5838 sq. meter) plot in Sharjah Airport International Free Zone (SAIF Zone) . The Gulf Petrochemicals ...

Sharjah Investment and Development Authority (Shurooq) has announced that retail spaces in Sharjah’s newly renovated Souq Al Shinasiyah area are now available for lease, ahead of the market’s opening towards the end of the year. The souq is part of the Heart of Sharjah development, one the largest heritage developments in the Gulf region. Souq Al Shinasiyah was one of ...

Hazel International FZE (HIF), owned by Indian conglomerate Veritas (India) Limited (VIL), has begun construction of a US$ 126.45 million (AED 464.5m) liquid and solid cargo handling terminal at Sharjah’s Hamriyah Free Zone. The new terminal is expected to make the free zone the second largest hub for petrochemicals, oil and gas bunkering and storage in the UAE. The new ...

Air Arabia (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, has announced record AED 173 million (US$ 47m) net profit for the second quarter of 2014, an increase of 128 percent on last year’s second quarter net profit of AED 76 million (US$21m). Air Arabia’s second quarter turnover reached AED 915 million (US$ 249m), an increase ...

Sharjah-based energy company Dana Gas PJSC (DANA:ADX) has announced a 70% rise in net profits for the second quarter of 2014 totaling US$ 46 million (AED 169 m), citing an increase in production across its projects and higher realised hydrocarbon prices. The company, which is the Middle East’s largest regional private sector natural gas company, reported an increase in average overall production ...

Sharjah’s award-winning integrated environmental and waste management company, Bee’ah, has stepped-up its tyre recycling efforts to process 3 million tyres per year. The company’s US$40million (AED 146.9m) recycling facility outside Sharjah city has already produced 3,565 tonnes of crumb rubber this year, equivalent to 90% of last year’s total production. Bee’ah is leading the way for tyre recycling in the ...

Delta Food Industries (FZC), one of the UAE’s fastest growing food exporters, will invest AED 40 million (US$ 11m) in expanding its manufacturing and packaging facilities in the Sharjah Airport International Free Zone (SAIF Zone). According to the manufacturer, which was established in Sharjah in 2011, the expansion is to help ramp up production to meet the growing needs of ...