Abdullah Nass Industrial Services, a division of Nass Corporation, has signed an agreement with Bahrain's labour fund Tamkeen to benefit from customised business solutions.

The newly-developed initiative provides grants for Bahrain's five largest private sector employers to enable them to develop and diversify their business portfolio, said a report in the Gulf Daily News (GDN), our sister publication.

The total budget allocated for the five large companies is BD5 million ($13.1 million).

The grants will be utilised to subsidise key capital expenditures which are in line with the companies' development and expansion strategies, which in turn will boost the national economy and create job opportunities for Bahrainis.

Shaikh Mohammed bin Essa Al Khalifa, chairman and acting chief executive, said: “This is a unique scheme which provides specific and customised business solutions that caters to the special needs of private sector mega enterprises, and exemplifies our continuous efforts to create more flexible programmes to better serve all private sector segments.”

Nass Corporation chairman Sameer Nass said the grant from Tamkeen would be used to strengthen efficiency and production capability at Nass Industrial Services' Hidd manufacturing facility.

The support is linked to several key performance indicators which will be monitored and then assessed once the scheme is completed. - TradeArabia News Service