Bahrain's business-friendly credentials and economic potential have got an endorsement that speaks louder than most, it is the voice of the industry that has come at a time of global economic turbulence. The authorities have approved four new projects at the Bahrain International Investment Park (BIIP), making Bahrain an industrial hub.
Industry and Commerce Minister Dr. Hassan Fakhro, who has been spearheading the countrys industrial drive, yesterday announced that the projects will cumulatively invest almost $40million (BD15m) in the countrys economy. He added that the projects would create 354 new jobs when they become fully functional. Two of the projects are from well-known and long established Bahraini companies, one is from a major German engineering company and the last one has American and Bahraini investors.
Welcoming the new companies to the BIIP, Dr. Fakhro said that this was further confirmation of Bahrain's attractiveness for foreign investors and also the growing strength of Bahraini manufacturing companies. The new manufacturing/service facilities cover a wide range from architectural products and engineering services to polystyrene sheets and aircraft maintenance and overhaul.
BFG International Bahrain has announced an investment more than $9m (BD3.5m) in a new operation for the manufacture of advanced architectural products. The project will employ 156 people at full production and will be located at the Baytik Industrial Oasis at the BIIP.
Zayani Polystyrene Bahrain too is investing an equal amount in a new facility to produce extruded and expanded polystyrene sheets. At full production levels, the new factory will employ 60 people. Germany-based SMS Meer plans to establish a new engineering services, repair and refurbishment centre, which will provide engineering and technical support to their entire Middle East customer base. It will employ 18 people at the end of its first year.
Finally, Aerothrust Holdings Florida in a joint venture with Bahraini partners Khalifa Al Sada and Ayman Al Obaidli, has lined up $20m (BD7.5m) for a new maintenance, repair and overhaul (MRO) facility for jet aircraft engines. At full production, the facility will employ 120 people.
