Makes investments with over AED 40mn in the UAE energy sector
IPT Energy, a prominent leader in the energy sector with origins in Lebanon since 1970, recently celebrated a significant expansion milestone within Sharjah. This notable activity, supported by Invest in Sharjah, commemorated IPT Energy’s substantial growth and increasing influence in the region.
In a strategic move, IPT Energy has recently expanded its presence in Sharjah by establishing IPT Energy Trading. This new entity actively engages in the importation and trading of refined oil products, petrochemicals, lubricants, and grease, according to a press communique.
Demonstrating a deep commitment to Sharjah’s burgeoning energy landscape, IPT Energy has invested approximately AED 40mn as first stage investment in the emirate. With plans to ambitiously double this investment to AED 80mn by 2025-26, IPT Energy’s growth trajectory is closely aligned with Invest in Sharjah’s mission to foster innovation and facilitate business development within the emirate.
“This milestone, through IPT’s success and expansion, also attests to Sharjah being a globally strategic investment destination,” stated Mohamed Juma Al Musharrkh, CEO, Invest in Sharjah.
During IPT Energy’s milestone celebration, Aya Issa, Regional Director of Issa Group Holding, owner of IPT Energy, expressed enthusiasm about the company’s regional expansion, starting with the UAE, and specifically Sharjah.
Maroun Abdel Nour, General Manager, IPT Energy, stated that IPT Energy Power Trading will run the company operations. Meanwhile, ‘IPT Energy Trading’ aims to enhance expansion by acquiring storage facilities.
IPT Energy welcomed the Invest in Sharjah team for an official site visit to their facility. The event, themed “A Journey of Growth and Innovation,” brought together key representatives from both entities.
