Ground was broken yesterday (December 3) in Bahrain for the construction of a new dry bulk logistics hub entailing a total investment of $30 million.

A joint venture between Schmidt Middle East Logistics and nogaholding, the project is being developed on a 30,000-sq-m area at the Bahrain Logistics Zone in Hidd, said a report in the Gulf Daily News (GDN), our sister publication.

The facility is being developed as to store, handle and distribute different bulk materials like polyethylene, polypropylene, catalysts and additives for the chemical and petrochemical industry, Schmidt Middle East chief executive Wolfgang Hoppmann told the GDN on the sidelines of the ground-breaking ceremony.

The project will be developed in three phases and once all approvals are in place and customers are signed up, it will be ready in 12 months by end of next year, he said. nogaholding chief executive Shaikh Mohammed bin Khalifa Al Khalifa was also present on the occasion.

The Economic Development Board has assisted Schmidt in completing the registration and licensing processes, while the Transportation Ministry will continue to aid the company in fully establishing its operations. - TradeArabia News Service