The Al Khaleej Development Company (Tameer) is investing $250 million (BD94.5 million) in developing infrastructure at the Bahrain Investment Wharf (BIW), it was revealed.

Tameer chairman Sameer Al Nafisi said it would bear the costs and create the entire infrastructure and instal all services including roads, streets, electricity and water network, a foul sewer network and communications, as part of a deal with the Industry and Commerce Ministry.

'This is the result of an agreement we have had with the ministry,' he said while speaking at the foundation stone laying ceremony of the Salman Industrial City.

He said it is estimated that the BIW project will provide 10,000 jobs.

'It is also estimated that the project will attract investments between $1.5 billion (BD567 million) to $2 billion (BD756 million).'

Al Nafisi hailed His Majesty King Hamad's commitment to leading Bahrain towards greater achievements in economic and social aspects.

He said his wise leadership and ideals had led Bahrain to become a unique model to look at in the entire region.

Saudi company Amiantit chief executive Dr Solaiman Al Twaijri, who also spoke on the occasion on behalf of all investors, said Bahrain had established new benchmarks in encouraging investors to set up new projects.

'The process has become remarkably easy now, since there is no red tape involved,' he said.

'There is no income tax and no duties on industrial inputs and no restrictions on exports. These are all very healthy signs.'

Dr Al Twaijri said the working relationship between investors in Bahrain and Saudi Arabia was worthy of being followed by all.

In Bahrain, the company provides its products for infrastructural products such as the water treatment plant in Hidd, Alba, Durrat Al Bahrain and Bahrain Bay, among others.-TradeArabia News Service