PVAXX Industries W.L.L., a wholly owned subsidiary of PVAXX Limited, the Bermuda-based commercial materials sales corporation, on Sunday broke ground on its planned 86,700 square meter facility in Bahrain for the production of shipping pallets manufactured from a patented composite material.
At full operational capacity, the Bahrain facility will generate annual revenues of some $600 million.
The event marks the start of construction on the $85 million project, which represents the first investment in the newly developed Port and Industrial Area at Hidd.
The manufacturing facility has been designed and is being built by Saudi Consulting Services 'Saudconsult', The Gulf Daily News reported.
Once operational, in March 2005, the factory will be capable of producing composite pallets at a rate of about 1 million per week. (menareport.com)
© 2004 Mena Report (www.menareport.com)
