Chief Executive of the Economic Development Board (EDB) Shaikh Mohammed bin Essa al-Khalifa welcomed the German manufacturing company, RMA, to Bahrain at an official ground breaking ceremony at the BIIP.
Once complete, the new 6,000 square meters RMA plant will manufacture Pipeline Inspection Gauge (PIG) traps and tee pipe fittings for the oil and gas sector.
The project will create over 100 jobs with 95% of output expected to be for export.
RMA is the second German firm in as many months to establish operations at the BIIP, following the opening of BASF’s 15,000 sq metre state-of-the-art antioxidant blends plant in late September.
“The decision by RMA to locate its regional operations at the BIIP underlines the attractiveness of Bahrain as a gateway to the trillion dollar Gulf market, and its position at the heart of the majority of the global oil and gas reserves. Under the stewardship of the Ministry of Industry and Commerce, the BIIP is going from strength to strength, welcoming high calibre foreign manufacturers attracted by the duty free access to the regional market not available in free zones elsewhere in the region,” Shaikh Mohammed said.
The event was also attended by the German Ambassador to Bahrain, Sabine Taufmann.
“The decision by RMA to establish our regional production plant in Bahrain was based on the compelling attributes of the Kingdom as an investment destination,” Andreas Truttenbach, Managing Director of RMA, said.
The offer of a highly skilled workforce, duty free access to the GCC and a low cost base proved highly persuasive. It was a natural choice for RMA.
The plant is expected to begin operation in August 2012. The announcement of the latest addition to the Bahrain International Investment Park comes days after Shaikh Mohammed announced at the World Economic Forum in Jordan that the EDB forecasts Bahrain’s economic growth to reach 5% in 2012.
The announcement comes ahead of the visit by a delegation from Bahrain, led by the EDB, to Germany in November to highlight the opportunities for investment in the Kingdom.
The Minister of Industry and Commerce Dr. Hassan Fakhro recounted that over the past five years Bahrain has developed very strong links with Germany. “Today we celebrate the establishment of another German company at the Bahrain International Investment Park,” Dr Fakhro said.
His Majesty visited Germany in 2008 and Chancellor Merkel visited Bahrain in 2010. In addition former Chancellor Schroeder is a regular visitor to Bahrain.
The Minister said that this was the sixth major investment in Bahrain since the visit of His Majesty King Hamad bin Isa Al Khalifa to Berlin with some business leaders in late 2008, a visit which continues to attract German interest to the Kingdom of Bahrain; and many other initiatives continue to materialise.
Industry and Commerce Minister, Dr. Hassan Fakhro, officiating at the ceremony congratulated Andreas Truttenbach the company’s Managing Director on the progress and successes of RMA since its founding in 1969.
Dr. Fakhro also paid a special tribute to the company founder, Siegfried Truttenbach in welcoming him and his family to Bahrain.
The company already has two plants in Germany and one in Poland and employs over 400 people. RMA Bahrain will be the 4th operation in the Group.
RMA designs and manufactures special valves, tees and fasteners for oil pipelines and this new facility will support their regional customers in Saudi Arabia, Egypt, Tunisia, UAE and Qatar.
The company is already preparing a special training program for Bahrainis in conjunction with local educational and training bodies.