A new company that will import building materials in bulk and sell them to Bahraini contractors could be formed in a matter of weeks, it has emerged.

It will import materials such as sand, steel, cement and aggregate and sell them at prevailing market rates, Industry and Commerce Minister Dr Hassan Fakhro said.

The proposal has already been submitted to the Cabinet and aims to ensure major projects are not affected by a shortage of materials, which are in huge demand across the region.

"The proposal is expected to be discussed and approved for implementation in the next few weeks," said Dr Fakhro.

He was speaking shortly after opening Property Arabia and The Worldwide Property Show, which are both underway at the Bahrain International Exhibition Centre.-TradeArabia News Service