Bahrain to set up new building materials firm
Berlin, June 15, 2013
Bahrain-based Al Ansari Group and Associated has signed a major agreement with a Yemeni group to set up a concrete mixer utilities company which will create 100 jobs in the kingdom.
A memorandum of understanding (MoU) was signed between Al Ansari Group and Associated's Abduljaleel Al Ansari and Yemen-based Dr Abdulaziz Abdulhamid Al Mekhlafi Group of Companies (AAA Group) on the final day of the 16th Arab-German Business Forum in Berlin yesterday.
Under the terms of the MoU, AAA Group will co-operate with Al Ansari Group in building manufacturing facilities for concrete mixer utilities, and later extending them to produce other steel products in Bahrain.
The partnership will see up to 100 jobs created in Bahrain. It will work closely with leading German suppliers of components such as Bosch to tap into their technical expertise, reported the Gulf Daily News, our sister publication.
Bahrain is the official partner country for the Arab-German Business Forum which brings together high level political and economic delegations from Germany and across the GCC.
The signing ceremony was attended by Transportation Minister and Economic Development Board (EDB) acting chief executive Kamal Ahmed, German Ambassador Sabine Tauffman and Bahrain Ambassador to Germany Ibrahim Mahmoud Ahmed Abdullah.
"We are delighted to see such an agreement signed at the Arab-German Business Forum, the direct result of meetings facilitated by the EDB," said Ahmed.
"It is a pleasure to see new business relationships come together that will contribute towards stronger economic growth in Bahrain and create jobs for Bahrainis," he added.
Germany is one of Bahrain's most important trading partners the kingdom is home to more than 50 German businesses, including BASF, RMA, DHL, Hannover Re and Siemens.-TradeArabia News Service