The planned mega Economic Industrial City in Bahrain is expected to bolster Bahrain's Gross Domestic Product (GDP) 20 per cent annually and create about 240,000 jobs.
The ambitious project will usher in a new era of progress and development in the country and will be capable of meeting Bahrain's needs until 2040, in line with the vision of His Majesty King Hamad bin Isa Al Khalifa, Industry and Commerce Minister Dr. Hassan Fakhro said.
The new city will cover an area of 95 square kilometres on reclaimed land to accommodate industrial, commercial, residential and recreational facilities, he said. The feasibility study has been submitted to the Cabinet and will be referred to the infrastructure and services committee for more scrutiny.
The major industrial city was planned with the target of developing the economy, to give the Kingdom the ability to attract foreign capital and investment.
The city will provide land for industrial activities, leading to the creation of numerous jobs, as well as increase the Kingdom's competitiveness with neighbouring countries.
The city will include world-class industrial, commercial, residential, recreational and other facilities.
Dr. Fakhro chaired a key meeting recently to review the latest developments on the planned city. The meeting was attended by representatives from Arthur D Little, the company tasked with preparing the study.
The study is aimed to integrate all the requirements and arrangements related to the project, including the cost and land space required and other details.