Bahrain industrial city investments set to hit $7.5bn
Manama, August 12, 2010
Investments in Bahrain's Salman Industrial City have hit $3.5 billion and are expected to reach $7.6 billion soon, a report said.
Investments in Bahrain International Investment Park (BIIP) currently stands at approximately $750 million and is forecast to reach $1.1 billion on completion of all projects, Industry and Commerce Minister Dr Hassan Fakhro told our sister paper Akhbar Al Khaleej.
The current investments represent 46 per cent of the industrial city's capacity, but will soon reach up to 90 per cent of BIIP capacity.
Most of the land in Hidd Industrial City, which is part of Salman Industrial City, has been leased to investors, with constant follow-ups on projects taking place.
Very few industrial properties remain not leased at Bahrain Investment Wharf, also part of the industrial city, with all remaining properties expected to be taken by the end of 2011, the report said.
The ministry's policy is based on encouraging industrial investment to boost Bahrain's economy, with all ministry land almost leased. The situation has prompted studies to find new industrial zones, within the country's strategic master plan, it said.
The matter has been raised to the government, with studies prepared to take everything into consideration, including environmental needs. -TradeArabia News Service