An Indian foundry company has inked a deal worth $5 million with a Bahrain-based sewage and drainage firm for supplying manhole covers across Gulf region.
The Abdul Rehman Mohammed Al Banna Contracting and Trading will be the sole distributor of manhole covers and frames of the Indian supplier Calcutta Ferrous which is a major exporter of these products to the US and Europe, 'Gulf Daily News' reported today.
"We expect to provide Bahrain with at least USD 1 million of these products in the first year of this agreement, representing some 70 per cent to 80 per cent of the local market," said Syed Said Ahmed, General Manager of Al Banna.
"The agreement across the Gulf Cooperation Council will probably be worth more than $5 million in sales in the first year. Their manhole cover business is specifically built on exports and their products meet the rigorous standards set in both the US and European markets.
They have been approved by the material testing directorate at the Works Ministry and have passed with flying colours," the GM was quoted as saying.
Calcutta Ferrous, set up by its owner and Managing Director B D Agarwal 25 years ago, is a major supplier of iron products to the Indian railway system.
"Our major sales are currently to the US but the Middle East market is one where we see expansion," Agarwal said at the signing ceremony.
