A new industrial area is to be developed in Hidd by a company formed by Al Salam Bank Bahrain, it was announced yesterday.

The venture is described as one of the most important industrial development projects ever witnessed in Bahrain, attracting investors and creating jobs for Bahrainis.

The development, which will mainly focus on environment-friendly light industry, is to be located near to Bahrain International Airport and Khalifa bin Salman Port.

Bank chief executive officer Yousif Taqi said it attracted strategic investors to form the company, which will develop the infrastructure for the industrial area and create a suitable and attractive environment for local, regional and international investors.

The bank and its partners decided to establish the company because light industrial-purposed areas contribute effectively to achieving sustainable economic growth, he added.

Taqi said the development would provide the facilities needed to set up light industry projects, which will create a strong and suitable foundation for technology transfer. Further details about the development will be announced later. -TradeArabia News Service