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niranjana
niranjana • Dec 28, 2011

Mumbai Firm To Invest $200m In A Polyester Plant In Bahrain

JBF Industries ltd, a $1.5 billion enterprise, has signed a contract to invest $200 million in establishing a polyester film plant in Bahrain. The plant to be located in Bahrain International Investment Park (BIIP) within Salman Industrial City will manufacture polyester films that are used in electronics and food products packaging and create 300 jobs. Bahrain Industry and Commerce Minister Dr Hassan Fakhro and CEO of JBF Mr. Cheerag Arya signed the contract.

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Mr.Arya and Dr.Fakhro signing the contract

The construction of this large industrial plant, spread across 65,000sqm, is expected to start in 2012. The production capacity in the first phase will be 90,000 tonne, though it can be expanded at a later stage. The polyester film manufactured in this plant will be traded in the European Union and US. This is with an aim to benefit from the free trade agreement with the US.

Industry and Commerce Minister Dr Hassan Fakhro speaking on the occasion said that all investments, especially high value-added, export-oriented and environmentally-friendly projects were welcome in Bahrain due to their positive impact on the national economy. He was also speaking about the investment opportunities that Bahrain holds, facilities and the incentives that the regional and the international businesses in Bahrain were offered.  Mr.Arya praised that the strategic location of Bahrain will make it a unique destination for investment.

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