Poullaides wins $32m industrial park contract
Manama, January 15, 2008
Poullaides Construction Company has won a BD12 million ( $32 million)-contract to build a world-class industrial park in Bahrain.
The project ‘KFH Industrial Oasis’ is being established by the Kuwait Finance House (KFH)-Bahrain at Bahrain International Investment Park (BIIP) in Hidd.
The project, a first of its kind in Bahrain, is aimed at driving further economic diversification in the industrial sector.
The industrial park is expected to net investments worth more than $200 million and help create more than 2,000 industrial and related jobs, KFH Industrial Oasis chairman Osama Al Khajah said.
'This will be the first private industrial park in Bahrain, to be built in a total area of more than 150,000 square metres,' he added. 'The park is designed for clean industries and knowledge-based activities.'
'It will generate greater inward investment and stimulate job creation in Bahrain,' he added.
'Target companies include a broad range of businesses from those in the region to Fortune 500 companies and other international firms engaged in manufacturing and service-oriented industries.'
The project will be developed in two stages. The first phase will cover an area of 11,766square/metres, while second phase will cover 45,154square/metres.
'KFH-Bahrain will invest more than BD13 million to develop Phase 1,' said Al Khajah.
'The construction work will end by February 2011. Details of the investment in the second phase have not been finalised.'
The first phase comprises 24 advanced factory units, and the five-storey building will provide modern, state-of-the-art office space.
'KFH Industrial Oasis is ideally located right next to the new Shaikh Khalifa bin Salman Port, just five minutes from Bahrain International Airport,' Al Khajah noted.
KFH Industrial Oasis is designed by leading Bahraini architect Dheya Towfiqi, who will also act as the project manager.-TradeArabia News Service
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