Saudi Arabia's Nasser S Al Hajri Corporation to Manufacture Solar Panels in Bahrain

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Researched by Industrial Info Resources (Sugar Land, Texas)--Nasser S Al Hajri Corporation (Dhahran, Saudi Arabia), a leading industrial contracting company, announced plans to invest $200 million to set up a manufacturing facility for solar panels in Bahrain. The plant, which will be built in association with an undisclosed Dutch company, is expected to begin operations by the end of 2011. The project will provide employment opportunities to 200 people.

Dr. Ravi Pillai, the managing director of Nasser S Al Hajri Corporation, indicated that the solar panels manufactured will find use in domestic and industrial applications and will be exported to European countries. The company also plans to explore markets in GCC countries in the future. Dr. Pillai declined to give the name of the Dutch partner.

Under the buy-back agreement signed by both partners, the Dutch company will purchase solar panels from the Bahrain facility for five years. Nasser S Al Hajri is awaiting clearances from the Ministry of Commerce and Industry, and approvals are expected shortly.

Established in 1978, Nasser S Al Hajri is a state-approved contractor for several projects in the Gulf region. The company's clients include Saudi Aramco (Dhahran, Saudi Arabia), Kuwait Petroleum Corporation (Safat, Kuwait), Saudi BASIC Industries Corporation (SAU:2010) (Riyadh, Saudi Arabia) and its subsidiaries, Yanbu National Petrochemicals Company (SAU:2290) (Yanbu, Saudi Arabia) and Qatar Petroleum (Doha, Qatar). Nasser S Al Hajri undertakes engineering, procurement and construction and contracting activities including electrical, structural, painting and piping, civil and mechanical contracts. The company services customers across the oil and gas, water, fertilizer, power, refining, cement and petrochemical sectors. The firm plans to develop low-cost housing projects in Bahrain. Work is expected to begin toward the end of 2010.

The company provides employment to about 50,000 people in the Gulf region, 80% of which are Indians. Dr. Pillai indicated that the projects are expected to exponentially increase employment opportunities for Indians in the region. Dr. Pillai recently received the "Padma Shri" award, India's fourth-highest civilian honor, which is awarded annually to Indian citizens in recognition of their contributions in the area of literature, industry, sports, medicine, science, and public life.

India and Bahrain have shared cordial cultural and trade relations for decades. Bahrain's strategic location in the heart of the Gulf region and its abundant oil reserves have made the country an ideal choice for trade with India. According to the website of the Indian embassy in Bahrain, both countries share strong and interdependent trade relations. While Bahrain is one of India's key oil exporters, India's exports to the Gulf country include precious stones, iron and steel, engineering products, food and poultry, chemicals, textiles, paper and building materials. In its report titled "Best Centers For Business--2009," Forbes magazine ranked Bahrain as the best country in the Middle East for business. While the country does not levy exemption of tax on capital gain or income and corporate tax, Bahrain's policy of providing 100% expatriate business ownership has emerged as one of the main attributes for its selection as a preferred business partner.

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