Around BD5 billion ($13.2 billion) will be invested in Bahrain International Investment Park (BIIP) in Hidd over the next few years, said Industry and Commerce Minister Dr Hassan Fakhro at the opening of a new polymer plant.

Dr Fakhro said 71 projects at the facility will employ 8,000 people, many of them Bahrainis.

Inaugurating the BD4.14 million Zayani Polymers plant on Thursday, he said the state-of-the-art factory, the 28th to open at the BIIP, already employs 70 people, with an expansion on the cards in the near future.

Another 23 projects are currently under construction and 20 more projects are in the pre-construction stage, he revealed.

Among those setting up facilities in Bahrain are Singapore engineering company MTQ, and Illium France which has commenced operations at its new joint venture with Bahraini company BFG, the minister said.

'MTQ has already constructed a 9,000 sqm facility to provide specialist engineering services to companies in the oil and gas industry in the GCC,' said Dr Fakhro.

The minister said CPIC, the largest manufacturer of fibre glass in China, is also planning to set up a 45,000 sqm facility with the potential to employ up to 1,000 people.

'When we established the BIIP in 2005, we set about developing a facility that could support and nurture the development of the best of Bahraini and Middle East companies.

'We also set about creating an environment that could attract and support the leading manufacturing companies in the world and we are now well on the way to meeting both of these key targets,' Dr Fakhro added.

He said some of the top family companies in Bahrain like Maskati Brothers, Mannai's Glass Tech and Awal Gulf Manufacturing are already there while from Saudi Arabia, the BIIP has Abahsain Group, Al Gosaibi Holdings and Arabian Sugar Company.

'These Bahraini and regional investments have been augmented by BIIP providing a new GCC manufacturing home to Kraft Foods, the largest food manufacturing company in the US, and to the two largest German manufacturing companies - Siemens and BASF.

'We have also attracted three other companies from Germany - Lauscha, RMA Pipeline Equipment and Paschal Formwork,' Dr Fakhro added.

Zayani Polymers will annually produce 5,000 metric tons of polypropylene woven sacks and polyethylene greenhouse sheets, used for agricultural production as they reduce the effects of the sun and protect the plants from harsh weather conditions.

The 5,000 sqm plant, a subsidiary of the J A Zayani and Sons Group of Companies, has been built on a 10,000 sqm site and has already commenced production.

Group finance and planning manager Varghese Karakkal said the new factory has been constructed and equipped to the highest standards in the industry with the latest in European technology, machinery and technical support.

'We also have a research and development laboratory to ensure we stay ahead of sector trends in bringing new products to market,' he added.

He said the factory is using 100 per cent recyclable technology with no waste or harmful emissions.

'Raw materials are sourced in the GCC, mainly in Saudi Arabia and Kuwait, while output from the plant will support markets in the GCC and throughout the Middle East, North Africa and Asia particularly in Jordan, Lebanon, Turkey, Syria and Yemen.'

He said at a later stage the company plans to enter the European market as well.

Senior group and company officials, including Jasim Abdulrahman Al Zayani, Mohammad Jasim Al Zayani and Nael Jassim Al Zayani were present on the occasion.-TradeArabia News Service