Bahrain: $12mn food factory in pipeline
A new food grain processing and packaging factory will be set up in Bahrain at a cost of USD 12mn, according to a report by Bahrain News Agency. The factory will come up in the Hidd Industrial Area and a construction contract is expected to be finalised this month.
According to Khalid Al Amin, chairman of Bahrain Agriculture Foods Storage & Security (BAFCO), Sri Lankan, Swiss and Indian businessmen will take part in the project, along with Bahraini investors who will take 60% of the stake. Sri Lankan and Swiss businesses will own 15% (each), while Indian investors will take 10%.
The factory is expected to start producing and exporting from the middle of 2018, and will import its feedstock from Canada and Australia and export products to the GCC region.
Al Amin underlined the crucial importance of embarking on a comprehensive strategy to meet Bahrains food needs, and also noted that the factory will provide jobs for citizens.
The factory will produce 6,000 tonnes of natural grains per month and 20% of the output will go to the local market and the remaining 80% will be exported.