Bahrain woos Indian units

NEW BUSINESS OPPORTUNITIES

Aluminium based units will be offered full ownership.

If you are an aluminium based unit looking at an export market, Bahrain might be a good option for your next unit.

A seven member business delegation of Bahrain Businessmen's Association (BBMA) on a recent trip to India met with representatives of Indian industries across several Indian cities to woo potential investors, especially aluminium based industries.

Addressing investors at a meet organised by the Confederation of Indian Industry (CII) in Mumbai, Khalid A Almoayed, chairman, BBMA said, "We want Indians to invest in our country."

He said units which produce aluminium based products will benefit from Bahrain's large production of primary aluminium.

"New opportunities are opening up in Bahrain. Production costs are 20 per cent cheaper compared to other Gulf countries. There is a ready made duty-free market among the Gulf countries," said Jawad Yousuf Al Hawaj, a delegation member.

In addition to joint ventures, Bahrain is also allowing investors 100 per cent ownership in the new units. Said Al Hawaj, "We are allowing foreign investors 100 per cent ownerships as well as joint ventures."

Bahrain produces approximately 1.5 million tonnes of aluminium a year, of which less than 40 per cent is used by local downstream industries.

But the industry is now looking at expanding the downstream aluminium industries into production of higher value-added semi-finished and finished products, said Al Moayed.

"There is tremendous potential for the development of new value-added downstream industries in the region, especially for supplying to the automobile, automotive, aviation, construction, electronic, food, furniture and tool making industries," he said.