$200m world-class industrial park in Bahrain
Manama, January 15, 2008
A world-class industrial park, which will bring in investments worth more than BD75.6 million ($200 million) will be set up in Bahrain.
The project is being established by the Kuwait Finance House (KFH)-Bahrain, it was revealed. The KFH Industrial Oasis will be located at Bahrain International Investment Park (BIIP) in Hidd.
KFH-Bahrain has awarded the BD12 million construction contract to Poullaides Construction Company.
The project will help create more than 2,000 industrial and related jobs, KFH Industrial Oasis chairman Osama Al Khajah told a Press conference at the KFH-Bahrain headquarters in Manama.
'This will be the first private industrial park in Bahrain, to be built in a total area of more than 150,000 square metres. The park is designed for clean industries and knowledge-based activities.'
The project, a first of its kind in Bahrain, aims to drive further economic diversification in the industrial sector, said Al Khajah.
'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 covers an area of 11,766square/metres, while Phase 2 covers 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.
'At full capacity, it is expected that the project will bring investments of more than $200m into Bahrain and will help create more than 2,000 industrial and related jobs.'
KFH-Bahrain general manager Abdulhakeem Al Khayyat said it would be a great milestone, which would contribute to the economic development and growth of Bahrain.
'With enormous competitive advantages, Bahrain and the Hidd area in particular, offer an ideal location for both regional and international industrial companies engaged in highly-productive and economically-beneficial activities,' he noted.
Nader Almoayyed, chief executive officer of Beitek Industrial Investment, a subsidiary of KFH (under formation), said the specialised industrial zone would help in the transfer and settlement of technology and add more value to the industrial sector.
'It gives an excellent opportunity for the Bahraini youth as the project would create jobs requiring specialised skills,' he added.
KFH Industrial Oasis is designed by leading Bahraini architect Dheya Towfiqi, who will also act as the project manager.-TradeArabia News Service