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Sun 5 Apr 2015 01:29 PM

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Bahrain said to need $400m to finish major stalled projects

Bahrain Chamber of Commerce and Industry says funds needed to complete six of biggest stalled projects

Bahrain said to need $400m to finish major stalled projects

A study carried out by the Bahrain Chamber of Commerce and Industry (BCCI) found that it would cost between $350 and $400 million to complete work on six of the country’s biggest stalled projects.

Gulf Daily News reports that the study says the money would allow the large-scale projects at Marina West, Amwaj Gateway, Villamar, Marina Reef, Riffa Views and an unnamed Al Areen Holding Company residential and commercial development could be completed for under $400 million.

According to the report, the figure is four percent of the $10 billion GCC Development Fund that was set up in 2011 with funding from UAE, Kuwait, Saudi Arabia and Qatar with a view to financing development plans in Bahrain over the following 10 years.

Work on many of the projects came to a halt, with little activity reported at Villamar, Amwaj Gateway or Marina West in recent years.

In an effort to deal with the issue, Bahrain established the Ministerial Committee for Reconstruction and Infrastructure.

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