Bahrain’s Aluminum Extrusion Company (Balexco) has received approval to establish a $2.22 billion factory in Qatar, reported the Gulf Daily News.
Balexco Qatar, which is being financed by a group of Qatari investors, will produce the same products as the Bahrain factory, said the paper.
It will also create nearly 200 new jobs, most of which will be filled by Qataris, said the paper.
The Qatari operation will have an annual capacity of up to 7,000 tons, a powder-coating plant with yearly production of 2,000 tons, and an anodizing plant producing 3,000 tons.
“The partnership between Balexco and the Qatari investors is a true reflection of both parties' continued efforts to enhance cooperation between the two countries in the aluminum extrusion industry,” said Balexco managing director Nabil Hadi.
Hadi said the new 47,000-square-meter factory would be the first of its kind in Qatar.
Site preparation will take three months and completion of the construction up to trial runs will take up to 18 months, he continued – Albawaba.com
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