India's Electrosteel Castings, the world's third largest producer of ductile iron pipes and ancillary products, on Wednesday inaugurated its new $6.6 million warehouse in Bahrain.
The company, listed in Singapore as well as the Bombay and National Stock Exchanges, is India's largest producer of pipes, and is a supplier to over 50 countries.
The Bahrain facility will act as Electrosteel's regional hub for sales and distribution activities to the Middle Eastern markets, a statement said, adding that the company employs more than 10,000 people worldwide.
Electrosteel is the second Indian firm in recent months to expand into Bahrain. In November, Synergies Castings, one of India's leading aluminium casters and manufacturers of alloy wheels, signed a joint venture with Mumtalakat Holding Company, the investment arm of Bahrain's sovereign wealth fund, to establish a manufacturing facility in Bahrain.
MK Jalan, director of Electrosteel, said: "We chose Bahrain as a centre for our northern Middle Eastern sales activities because of its strategic location at the heart of this market, and for its strong transport network & infrastructure, that link Bahrain to other countries in the region.
"The laws and regulations of Bahrain are investor friendly, and we are grateful to the Economic Development Board for all their help, which has greatly contributed to our business set up."
India and Bahrain enjoy close economic relations, with trade between the two nations reaching $720 million in 2014. More than 350,000 Indian nationals are currently living in Bahrain.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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