Indian business group Mahindra & Mahindra has established a $10 million steel service centre in the Sharjah Airport International Free Zone.
"This is our first venture in the Middle East and we have chosen Sharjah because it is shaping up as a major logistics hub," Anand G. Mahindra, vice-chairman and managing director of Mahindra and Mahindra Ltd (M&M) told <i>Gulf News</i> at the opening of the facility Saturday. M&M is a $2.2 billion annual revenue group.
According to the report, the group is considering bringing its other businesses to Sharjah as well. Setting up facilities for automotive spare parts and tourist resorts will be the next step.