Firms vow $1.8bn investment at BIIP

23/04/2014 07:30 AST

As many as 103 companies have committed to investing a total of $1.8 billion at the Bahrain International Investment Park (BIIP) in Salman Industrial City, Industry and Commerce Minister Dr Hassan Fakhro said.

Speaking at an event held to mark the production of the one-billionth unit at US-firm Mondel_z International's cheese and powdered-beverage plant in Bahrain yesterday, the minister said the companies had the potential to provide over 10,000 jobs at full production.

According to Dr Fakhro, over half of the companies are based in Germany, the US, the UK, France, India, Singapore, China, Japan, Saudi Arabia and other countries.

"These foreign companies represent over 80pc of the total investment commitment of $1.8bn.

"More than 58 new projects are already operational and they employ over 3,500 people," he said.

Dr Fakhro said since announcing its first project in Bahrain in July 2006, Mondel_z International has surpassed all the commitments it made in terms of investment and employment targets.

Mondel_z International was the first company to start operations in the BIIP in late 2007.

The minister added Mondel_z has had a strong and positive influence on the decision-making process of many of the foreign companies that have chosen to locate in Bahrain.


Gulf Daily News

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Recent News

Saudi Public Investment Fund signs agreement with Six Flags to create amusement park in Riyadh

05/04/2018

Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa

Arab News

Green energy drive will boost KSA employment: Saudi Arabia’s renewable energy chief

05/04/2018

In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.

A massiv

Arab News

Dubai house prices, rents drop in first quarter of 2018

05/04/2018

Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices

The National

Saudi Arabia lifts GCC index buoyed by strong oil prices

05/04/2018

Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re

Times of Oman

Banks’ real estate credit at QR147.7bn

05/04/2018

Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i

The Peninsula

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap