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Thu 7 Jan 2010 12:49 PM

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Investment in Bahrain industrial city to reach $8bn

Commerce minister upbeat on growth prospects for Salman Industrial City.

Senior figures attending a foundation-laying ceremony at Bahrain’s Salman Industrial City said that investment in the zone was expected to more than double to almost $8 billion in the next few years.

As part of Bahrain’s Vision 2030 economic plan, the site is earmarked to bring industry, services and business logistics together close to major transport arteries.

Salman Industrial City includes several key areas in the Hidd area, such as Bahrain International Investment Park, Bahrain Investment Wharf and Hidd Industrial Zone.

The location is also adjacent to the country’s newest port, Bahrain Gateway, which opened last year, and close to both Bahrain International Airport and the proposed Qatar-Bahrain causeway.

Around 15,500 people are already employed in the area, a number which is expected to grow to around 34,000, claimed a senior official, who added that the amount of investment already received had reached $3.5 billion.

“We believe that this growth will continue and reach more than $7.6bn in the next few years," said Industry and Commerce Minister Dr Hassan Fakhro.

Fakhro added that around 156 companies are currently based in the area, with the number expected to rise to around 210 in the future.

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