A new food grain processing and packaging factory will be set up in Bahrain at a cost of $12 million, said Khaled Al Ameen, chairman of Bahrain Agriculture Foods Storage & Security (Bafco).
The factory will come up in the Hidd Industrial Area and a construction contract is expected to be finalised this month.
Al Ameen said Sri Lankan, Swiss and Indian businessmen will take part in the project, along with Bahraini investors who will take 60 per cent of the stake. Sri Lankan and Swiss businesses will own 15 per cent (each), while Indian investors will take 10 per cent.
The factory is expected to start producing and exporting from the middle of 2018, said a statement. It will import its feedstock from Canada and Australia and export products to the GCC region, it said.
Al Ameen underlined the crucial importance of embarking on a comprehensive strategy to meet Bahrain’s food needs, and also noted that the factory will provide up to 80 jobs for citizens.
The factory will produce 6,000 tonnes of natural grains per month and 20 per cent of the output will go to the local market and the remaining 80 per cent will be exported. - TradeArabia News Service