Bahrain industrial city to see investment double

Planning the industrial city

The Salman Industrial City, currently under construction in Bahrain, is expected to see investment double to almost $8 billion over the next few years, it was announced by Industry and Commerce Minister Dr Hassan Fakhro at the site's foundation-laying ceremony.

"We believe that this growth will continue and reach more than $7.6 billion in the next few years," said Dr Fakhro at the ceremony, also stating that the number of companies currently based in the area is expected to rise from 156 to 210.

The city, that is part of Bahrain's Vision 2030 economic plan is based in the Hidd area of Bahrain and will include key areas such as the Bahrain International Investment Park, Bahrain Investment Wharf and Hidd Industrial Zone. It is hoped the Industrial City will bring industry, services and business logistics together close to major transport routes.

The site is situated next to the country's new port, The Bahrain Gateway as well as also being close to the Bahrain International Airport and the proposed Qatar-Bahrain causeway.

Investment opportunity

The site is expected to hire up to 34,000 people, with 15,500 already currently employed in the area. It is believed that $3.5 billion has already been invested in the project, with another $4 billion expected over the next few years.

The site's opening ceremony was also attended by Prime Minister Sheikh Khalifa bin Salman Al-Khalifa, Crown Prince Sheikh Salman bin Hamad Al-Khalifa, and about 1,000 guests.

Dr Fakhro said the new site was testament to the fact that industry had emerged as Bahrain's main source of growth.

"This project will build Bahrain's economic future and link our country with the Gulf region through causeways and highways to other GCC (Gulf Cooperation Council) countries, and will hopefully meet the country's needs and enhance our economy even further, so as to achieve our citizens' hopes and aspirations at all levels."

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