BIIP approves 16 new projects in H1
Manama, July 29, 2013
The Bahrain International Investment Park (BIIP) saw 16 new projects being approved during the first half of the year, according to a senior government official.
This took to 96 the number of companies that were planning to build facilities at the BIIP, Industry and Commerce Minister Dr Hassan Fakhro was quoted as saying in the Gulf Daily News, our sister publication.
The projects have an associated commitment to invest BD500 million ($1.33 billion) and to employ in excess of 10,000 people when they are fully operational.
Detailing the development status at BIIP as of the end of June, Dr Fakhro said 50 projects entailing a total investment of BD186 million and creation of 4,540 jobs were already operational.
This number had grown from 31 in 2011 to 43 last year.
Fourteen projects amounting to a total value of BD206 million, with 2,280 jobs ensuing as a result, were under construction.
Leases had been signed for another seven projects valued at BD10 million. These projects are expected to create 460 jobs.
Moreover, 25 projects were in the pre-lease stage with BD98 million lined up for investment and 4,016 potential jobs on the cards.
For the year to the end of June, employment at the park surpassed 3,000 people.
Major project announcements in the first half included the opening of the new Reckitt Benckiser plant and the expansion of Mondelez.
A number of earlier projects now undertaking significant expansion in the current year include Ameeri Industries, Asghar Ali and MAK.
International services projects including American Express, NCR, Tuv Nord and Alstom are now operating from office space in the BIIP.
From none in 2011, the number of services companies at the park has grown to 10 with commitments to lease almost 5,000 sq m.
A number of significant projects set to become operational in the second half of the year include Arabian Sugar and Jaybharat Filaments.
The minister said the main objective for the remainder of the year would be to deliver further quality business to the park and to Salman Industrial City. – TradeArabia News Service