Bahrain's industrial city 'attracting investment'
Manama, May 16, 2012
The Salman Industrial City, which comprises three separate industrial parks, is playing a major role in boosting Bahrain's economy and attracting investment, said Industry and Commerce Minister Dr Hassan Fakhro.
He was speaking at a reception to welcome Thai Prime Minister Yingluck Shinawatra and her delegation to the Salman Industrial City.
Dr Fakhro said the Salman Industrial City will provide more than 34,000 jobs on completion with an associated investment of in excess of $7 billion.
The minister also reviewed important features of the industrial cities, noting the Bahrain International Investment Park, which was established in 2005.
He said that there are 33 new companies already in production and a further 37 at various stages of plant construction and planning.
With regard to the Hidd Industrial Area, the minister highlighted the Asry Ship Repair Yard and the GIIC metal pelletising plant. Between them, these companies employ over 5,000 people and GIIC is now embarking on a major expansion.
It is building a new $1.2 billion steel manufacturing plant with a Japanese partner. On completion of this plant, the total investment here will be in excess of $3 billion, he said.
The ministry has also established its Industrial Incubator project at this location to encourage the start-up and support the development of new Bahraini enterprises.
The minister also reviewed the Bahrain Investment Wharf, which is the largest mixed use industrial complex in the country.
The project includes industrial, commercial, logistics, hotel and worker accommodation. At completion it will involve an investment of over $2 billion.
A detailed presentation of the Salman Industrial City was also provided to the delegation.
The Thai Premier and the economic delegation praised the government and ministry's efforts in enhancing the industrial sector in the kingdom, noting their aspiration to invest in Bahrain and search for local partners to achieve this goal.-TradeArabia News Service
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