Bahrain Diversifies, Consolidates with $22 Billion Investment Drive

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Bahrain is investing $22 billion in projects in the infrastructure, industrial and tourism sectors. The projects include the Bahrain International Airport (BIA) modernization project, the development of the Al Jazair Beach tourism facility, the Alba aluminum smelter, and the Bahrain Petrochemical Company (Bapco) refinery modernization project.

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The modernization of BIA is aimed at increasing the airport's capacity more than 50%, from 9 million to 14 million passengers annually.

Bahrain is targeting 40,000 new housing units in a fast-track plan, which will involve a $7.5 billion investment from the Gulf Cooperation Council (GCC) Development Fund. Government organizations and the Mumtalakat Holding Company, the investment arm for Bahrain's key commercial assets, will play major roles in the implementation of key projects.

Transportation Minister and Economic Development Board Chief Executive Kamal Ahmed said: "These investments promise opportunities to international investors, as well as strengthen connectivity with the region. The projects are part of a wider effort aimed at diversifying the economy, as well as drawing quality investment, in order to support long-term sustainable growth, create quality job opportunities, and increase the standard of living."

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