Ninety-seven per cent of the landmark Bahrain Investment Wharf (BIW) has been sold out.

Industry and Commerce Minister Dr Hassan Fakhro yesterday received BIW vice-chairman Laith Al Maamar and chief executive Muhannad Al Durra who outlined the progress of the key industrial development project.

The remaining 3pc area has been earmarked for the road network and accessory services.

A total of 28 construction licences covering 42 land parcels have also been issued to date.

The first 66 kilovolt subsidiary power station also became operational last month.

Work on a second similar power facility is also proceeding according to plans. Negotiations are underway to set up two extra power stations.

A total 35pc of the 11.9km road network have also been completed, in addition to 55pc of the 11.2km sewerage network. Meanwhile, only 10 pc of the 11km water network has been completed to date.

The fifth of the 6.85km power cables has also been laid so far.

A total of 7pc out of an overall 497 street lamps have been installed in addition to 5pc of the 24.2km fibre telecommunications grid.

Work on the BIW key infrastructure is expected to be complete early next year, with 18pc already operational.

The BIW has also installed a hi-tech electronic system to manage the services in a highly efficient way.

Dr Fakhro stressed the vital importance of BIW project as an added value booting the economic infrastructure.

The scheme, he said, will also create a solid basis to attract global industrial projects to establish in Bahrain.

Such a drive would create work opportunities for thousands of Bahraini jobseekers.

Dr Fakhro also described the project as a leading private sector industrial development venture.

He also pointed out the decision of the Economic Development Board to consider the BIW as a model top emulate in promoting future industrial zones.

'Both the BIW and Bahrain International Investment Park will cater to growing demand on industrial zones by leading foreign investment companies', he said. He also praised the efforts of the WIF Company for promoting the project and marketing 97pc of it in a record time.-TradeArabia News Service