Kuwait Finance House - Bahrain managing director and chief executive officer Abdulhakeem Alkhayyat undertook an assessment visit to the Baytik Industrial Oasis (BIO) site.

BIO, a state-of-the-art industrial park within the Bahrain International Investment Park (BIIP), is set to complete the project in the first quarter of 2011.

Aimed at ensuring that construction is executed within the planned timeframe and that the quality of the final product is strictly maintained, Alkhayyat's visit is part of a routine inspection personally conducted by him.

Senior officials from KFH-Bahrain and BIO along with project engineers and representatives from the contractors were also present.

'Looking into the future, BIO will become the standard for all such future projects on the island,' said Alkhayyat. 'Providing world-class infrastructure for international investors in the technology, manufacturing and service sectors, KFH-Bahrain's investment in BIO is in accordance with Bahrain's Economic Vision 2030.'

'I wish to personally extend my thanks to the Ministry of Industry and Commerce and the Economic Development Board for their valued support and continued assistance to this landmark project.

'I would also like to congratulate the various contractors and engineers who have ensured BIO's construction remains in line with leading international standards,' added Alkhayyat.

'BIO's phase I expected to complete construction within the first quarter,' said BIO chairman and head of project development at KFH-Bahrain Osama Al Khajah.

'Creating a platform for international investment, BIO will help diversify Bahrain's industrial sector.

'It adds direct value to the kingdom's economic outlook, as the project is in accordance with the strategies set forth by the Ministry of Industry and Commerce.

'Stimulating job creation and enhancing the local population's ability to upgrade their skills, BIO aims to meet the professional demands of a rapidly maturing youth population.

'By attracting international experts who impart business skills to local Bahraini population, we facilitate knowledge transfer which is necessary for the progress of the nation,' said Al Khajah.

'The first of its kind in Bahrain, BIO is keen on delivering the project as per scheduled time,' said Baytik Industrial Investments chief executive officer Nader Al Moayyed.

'By ensuring that all current international and industrial standards are adhered to our facilities will be unique to the region.

'With convenient and cost-effective land, sea and air access, BIO's strategic location makes it an economically smart choice for regional and international industrial companies.

Al Moayyed said the project was planned and is being constructed in two phases. Phase 1 covers an area of 1.25 million square feet whereas Phase 2 covers 500,00 square feet.

Phase 1 of the project provides new industrial units available for rent, the units offer an excellent specification and are available immediately, enabling businesses to start operations without delay, with a host of economic incentives such as duty free entry into the GCC, no corporate tax, 100 per cent foreign ownership and an unparalleled location with easy access to all GCC markets, BIO is the perfect space to realise your business vision.

'Most recently, BIO signed an agreement with Siemens Bahrain. The company has leased a total area of 25,000 square feet and will be the first tenant to move in and benefit from BIO's state-of-the-art facilities' added Al Moayyed.-TradeArabia News Service