The four projects will involve a total investment of almost $40 million (BD15m) and at full production will create 354 new jobs.
Two of the projects are from well-known and long established Bahraini companies, 1 from a major German engineering company and the 4th project has USA and Bahraini investors.
In welcoming the new companies to the BIIP, Dr. Fakhro stated that these new announcements are a further confirmation of Bahrain’s attractiveness for foreign investors and to the growing strength of local Bahraini manufacturing companies.
Details of the new projects are as follows; BFG International Bahrain currently has manufacturing facilities in Bahrain, Philippines, China, India, France and USA. In this new Bahrain operation they will invest over $9million (BD3.5m) in the manufacture of advanced architectural products.
The project will employ 156 people at full production and will be located in a 10,000 square meters unit at the Baytik Industrial Oasis at the BIIP.
Zayani Polystyrene Bahrain will invest over $9million (BD3.5m) in a new facility to produce extruded and expanded polystyrene sheets. This new factory will be built on a 10,000 square meters site at the park and at full production will employ 60 people. This will be Jassim Zayani’s second manufacturing facility at the BIIP. In September 2011 last, Dr. Fakhro officially opened the newZayani Polymer factory which now employs 71 people.
SMS Meer is a major Engineering company, located in Monchengladbach Germany. They will now establish a new Engineering services, repair and refurbishment centre at the BIIP. From here SMS Meer will provide engineering and technical support to their entire Middle East customer base. SMS Meer is the 6th German company to locate at the BIIP and negotiations are continuing with another major German company. The new operation will be located at the Baytik Industrial Oasis and will employ 18 people at the end of year.
Aerothrust Holdings Florida USA will take a 51%share with their Bahraini partners, Khalifa Al Sada and Ayman Al Obaidli in establishing a new maintenance, repair and overhaul facility for jet aircraft engines.
The total investment will be over $20million (BD7.5m) and the new centre will be located in a 9,600 square meters building at the Baytik Industrial Oasis. At full production the facility will employ 120 people.
The Bahrain international Investment Park (BIIP) in Salman Industrial City already allocated 75% of the total leasable area (1.5 million square meters) to various industrial and services projects. The total number of projects in BIIP at this time is 73 projects with a total investment figure of BD490 million ($1.3 billion) in which FDI investments represent 71% of the total investment. Currently, 31 companies are operational at the Bahrain International Investment Park with a further 21factories under construction and 21 projects pending initiation. The BIIP also includes the Baytik Industrial Oasis project that is owned by Kuwait Finance House and it’s established over an area of 117,000 square meters. This project provide support to industry through offering pre-built industrial units to industrial and international services companies interested in leasing a facility instead of constructing their own and, in the same time, enjoying the BIIP incentives.