Eight firms to create 500 jobs; projects to focus on international markets
THE BD28 million private sector investments in the Bahrain International Investment Park (BIIP) will further spur the flow of local, regional and international investments in this highly-specialised project, the Minister of Industry and Commerce Dr Hassan Fakkhro told a top officials meeting yesterday.
Dr Fakhro said that the investment agreements signed by eight companies in the BIIP would create over 500 jobs for the growing entrepreneurial Bahraini companies. All of the projects will focus on international markets.
The largest investor to date is Abahsain, one of the top 60 companies in Saudi Arabia, who are establishing a state of the art glass fibre manufacturing facility in the park in a joint venture with the American company GSI which has the technology for E-CR/Fiberglass production.
Global Logistics Services has teamed up with Infofort Middle East, the longest established records management company in the Middle East to develop an outsourced data management service for banks and other financial companies, and for government departments.
Ali Jawahery, Managing Director for GLS, stressed the strategic significance of establishing such a presence in the BIIP and said: "Being the only company of its kind in Bahrain gives us a special advantage as the infrastructure allows us to offer our unique services to a wider client base in the Kingdom and the region".
Al Jazira Cooling and Heating, a stainless steel fabrication company, specialised in the manufacture of water heaters and display chillers, is developing a modern engineering plant at BIIP which will supply their growing customer base in the Gulf. This project will create 45 jobs, and will market their products through a direct sales approach with emphasis on price competitiveness.
Box Makers, which is owned by P Haridas group, already operates a successful facility manufacturing boxes in Bahrain. They specialise in manufacturing corrugated cartons and also offer packaging solutions to local and over seas industries.
Ramez International is establishing a manufacturing facility for plastic and paper products which will employ over 100 people. Ramiz Al Awaadi of Ramez International said: "This venture is supported by the prosperous economic progress experienced in Bahrain recently"
Yokogawa, a Japanese technology company, will establish a plant in the high technology manufacturing and assembly zone of the Park. The total projected employment for this project is 160 with 80 jobs in phase one.
Oriental Press, established in Manama in 1952, plans to establish a printing operation at BIIP for which their UK based sales office will devise and implement the marketing plan. The group currently employs 450 people at their plants in Manama and Jebel Ali, and will provide up to 250 new jobs in the BIIP. Currently the company exports 75 per cent of production to over 37 countries around the world and the diversification at BIIP is also export-driven.
Maskati Brothers and Company will establish a manufacturing facility at BIIP for paper, plastic and aluminium foil products.
By Mehmood Rafique Business Correspondent
© Bahrain Tribune 2006
