A deal to set up a new biscuit factory with an initial investment of $90 million in Bahrain was signed yesterday (January 13).

The lease agreement, which was signed by Industry and Commerce Minister Zayed Al Zayani and Mondelez International - Bahrain project director Terry Denton, will pave the way for the factory, said a report in the Gulf Daily News (GDN), our sister publication.

Under the agreement, 250,000 sq m of industrial land in the Salman Industrial City, Hidd, has been made available to the American multinational confectionery, food and beverage conglomerate.

The project will join other large projects located in Salman Industrial City which currently attracts a large number of industrial projects and includes a modern industrial zone such as Bahrain International Investment Park which contains 105 industrial projects.

The minister said Bahrain continues to attract major international companies to set up operations, which in turn encourages more investment in favour of the national economy.

This is the second major investment by Mondelez in Bahrain.

The snacks powerhouse has already invested more than $75 million in developing a Kraft Cheese and Tang powdered-beverage plant in Bahrain which has been operational since 2008.

With a production capacity of 110,000 tonnes per year, the existing facility employs more than 240 people.

It has injected over $250 million in the local economy since construction through wages, and purchase of goods and services. - TradeArabia News Service