ABOUT THE FNRC

ABOUT FNRC

Fujairah Natural Resources Corporatio

Under Edict No. 1 of 2009 promulgated by HH Sheikh Hamad Bin Mohammed Al-Sharqi, Ruler of Fujairah, the Corporation was established as an autonomous financial and administrative entity and is therefore to be named "Fujairah Natural Resources Corporation". As a juristic entity, the FNRC is affiliated to the Ruler and is hereby entitled to exercise all legal actions — including the acquisition of movable assets, the conclusion of agreements and contracts, the acceptance of gratuities and donations, in addition to the right of litigation. In addition, the Corporation has the right to substitute any person to act during legal procedures and represent the Corporation before courts and jurisdictions. The FNRC is to be based in the city of Fujairah.

The Board of Directors is entitled to open new branches and outlets in the Emirate of Fujairah, if necessary. The FNRC is composed of the Council and Executive Body.

IMPORTANT INFORMATION

In fact, the Corporation aims at conducting geological studies and various surveys in order to develop the sectors of rocks, minerals and oil in particular, and to optimally use the natural resources located within the boundaries of the Emirate in general. Furthermore, the FNRC exerts much effort to streamline works related to licenses, rights, agreements, and concessions of rocks and minerals and further to facilitate the setup procedures of the necessary projects. In addition, the Corporation is concerned with monitoring all activities and evaluating the ecological impact in order to secure the consumer protection, public safety and environment in relation to all mining operations and the consistency with the laws and rules and regulations as well as with the technical standards embraced by the State.