Bahrain - A multi-million-dollar facility expected to
create around 200 jobs by next year has opened in Bahrain. The
estimated $40 million facilities will
manufacture copper tubes to serve regional air conditioning and refrigeration
suppliers.
US-based Mueller Industries opened its first
copper tube manufacturing facility in the Middle East at the Bahrain International
Investment Park (BIIP) in Hidd. Mueller Middle East is a joint venture between
Mumtalakat, Mueller Industries and Cayan Ventures, while Bank ABC is the
funding partner
“We just
celebrated the 100th anniversary of our
company, and what better way to kick-start
by setting our new base in Bahrain,” said Mueller Industries chairman and chief
executive Greg Christopher.
“The facility will supply over 24,000 tonnes of
copper tubes and employ 200 people when it reaches full capacity by 2019.” “We
look forward to providing high quality and cost-effective products to our
customers over the long term.”
He was speaking during a ceremony held at the Hidd facility, which was held under the
patronage of Deputy Premier and Bahrain Mumtalakat Holding Company chairman
Shaikh Khalid bin Abdulla Al Khalifa.
Shaikh Khalid said the decision to set up the
facility at BIIP was a testament to the quality infrastructure and location.
“This investment greatly strengthens the
industrial sector, which is one of the top five economic sectors at the current
stage,” said Shaikh Khalid.
“It ensures the effectiveness of the Economic
Vision 2030, which aims at diversifying sources of income, expanding the
economy and encouraging the private sector to increase its contribution to the
national economy.
“Through this joint venture, Mueller Middle
East will boost exports from the industrial sector which currently accounts for
20 percent of Bahrain’s GDP.”
US Ambassador Justin Siberell, who was also
present at the launch, said 200 American companies have so far selected Bahrain
as their base for business operations because of access to the regional market, logistics facilities and
skilled workforce.
“This joint venture between Bahrain and US-based shareholders demonstrates once again
the strong commercial partnership between Bahrain and the United States,” he
said.
“We look forward to seeing more such joint
venture structures between Bahraini and American partners that will bring jobs
and increased prosperity to both our countries.”
Mumtalakat chief executive officer Mahmood Al
Kooheji, meanwhile, said Bahrain continued to offer the best investment
environment in the region.
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