The Minister of Industry and Commerce of Bahrain, Hassan Fakhro, and Bahrain Economic Development Board (EDB) Chief Executive, Shaikh Mohammed bin Essa al-Khalifa, formally welcomed German manufacturing company, RMA, to Bahrain today at an official ground breaking ceremony at the Bahrain International Investment Park (BIIP).
Once complete, the new 6,000 sq metre RMA plant will manufacture Pipeline Inspection Gauge (PIG) traps and tee pipe fittings for the oil and gas sector. The €13 million (BD6.8m) investment is expected to bring over 100 jobs to the Kingdom and with 95% of output expected to be for export. RMA is the second German firm in as many months to establish operations at the BIIP, following the opening of BASF’s 15,000 sq metre state-of-the-art antioxidant blends plant in late September.
At the event, which was also attended by the German Ambassador to Bahrain, Sabine Taufmann, Shaikh Mohammed said: “The decision by RMA to locate its regional operations at the BIIP underlines the attractiveness of Bahrain as a gateway to the trillion dollar Gulf market, and its position at the heart of the majority of the global oil and gas reserves. Under the stewardship of the Ministry of Industry and Commerce, the BIIP is going from strength to strength, welcoming high calibre foreign manufacturers attracted by the duty free access to the regional market not available in free zones elsewhere in the region.”
Speaking following the event, Andreas Truttenbach, Managing Director of RMA, said: “The decision by RMA to establish our regional production plant in Bahrain was based on the compelling attributes of the Kingdom as an investment destination. The offer of a highly skilled workforce, duty free access to the GCC and a low cost base proved highly persuasive. It was a natural choice for RMA.”
The plant is expected to begin operation in August 2012. The announcement of the latest addition to the Bahrain International Investment Park comes days after Shaikh Mohammed announced at the World Economic Forum in Jordan that the EDB forecasts Bahrain’s economic growth to reach 5% in 2012. The announcement comes ahead of the visit by a delegation from Bahrain, led by the EDB, to Germany in November to highlight the opportunities for investment in the Kingdom.