Bahrain: Industrial hive"
Bahrain expects to attract $25 billion in industrial investment over the next 10 years as it seeks to diversify its economy and expand its export base, the minister of industry and commerce, Hassan Abdulla Fakhro said in August. The Kingdom is leveraging its competitive advantages to encourage industrial development, much of which is taking place in officially designated zones. Manufacturing is particularly important for Bahrain, which does not have the huge hydrocarbons resources of some of its neighbors. Industrial sectors that are already well established include metals, food processing, construction materials and petrochemicals. In the latest expansion of dedicated industrial land in the Kingdom, representatives of the Bahrain Industrial Gate (BIG) project, a multi-million-dollar economic city development program on a 557,000-sq-metre site, signed a marketing agreement in mid-August with Bahrain Credit, in which the government is a major shareholder through state-owned organizations. Bahrain Credit will work to attract investors and will help secure funding to establish units at BIG. Officials have said that demand continues to outstrip supply, as investment in manufacturing picks up. Bahrain’s industrial sector is benefitting from strengths including the Kingdom’s central location, with easy access to the neighboring markets of the Middle East, the established economies of Europe and the rising powers of Asia and Africa. It also offers favorable trade terms, light-touch regulation and a strong human resource pool. Source: Oxford Business Group"
Dubai firm plans copper smelter in Tanzania"
SDubai-based City Energy & Infrastructure plans to build a copper smelter and sugar plant in Tanzania over the next three years at a total investment of $500 million, a senior company official said. City Energy & Infrastructure said it would construct the east African country's first ever copper smelter with a capacity of 300,000 tons of blister copper per year. ""The copper refinery will process around 1.2 million tons of copper ore per annum. Construction should take about 24 to 36 months,"" Irfan Khan, a director and shareholder of the company told Reuters. ""We are also looking at setting up a sugar factory with 20,000 tons of cane-crushing capacity per day, which translates into an annual output of 600,000 tons of sugar ... the total investment in these projects will range at $500 million."" He said the company plans to develop 100,000 hectares of agricultural land in Tanzania to grow sugarcane to feed the proposed sugar plant. Khan said the firm signed a memorandum of understanding with the government on October 20 for implementation of the projects in the Tanzanian town of Kigoma. Source: Reuters"
PolyOne-Juffali to set up Saudi JV"
PolyOne Corporation, a premier global provider of specialized polymer materials, services and solutions, has announced an agreement with E A Juffali & Brothers Company to form a joint venture in Saudi Arabia. The joint venture will enable PolyOne to expand its global color, additives and inks business into the Middle East. The new joint venture will be 51% owned by PolyOne and will be based in Jeddah, Saudi Arabia. ""I am pleased to announce our new agreement, which strengthens our relationship with a key business partner to drive profitable growth in the Middle East,"" said Stephen D Newlin, chairman, president and chief executive officer of PolyOne. ""Juffali brings local expertise and years of running successful businesses in the region, while PolyOne is providing the formulating technology and material science to market new, innovative solutions."" The joint venture will be investing in a new manufacturing facility focused on the production of specialty color concentrates with the potential for expansion into other product lines in future phases. The initial investment is expected to be approximately $14 million and will take place over the next nine to 12 months with local production forecasted to come on-line in late 2012. Source: TradeArabia News Service"
UAE to invest $9.5bn in Indonesia smelters"
The United Arab Emirates (UAE) plans to make possibly the largest-ever investments in Indonesia's industrial sector by pumping $9.5 billion into aluminum smelter projects in Kalimantan, Indonesia's ambassador to the UAE said. M Wahid Supriyadi was unable to give a time-scale or details on production capacity on the two smelter projects, at a news conference in Jakarta. ""Emirates Aluminum will invest $4 billion in West Kalimantan to build an aluminum smelter and a power plant. Ras Al Khaima Investment Authority will invest $5.5 billion in East Kalimantan to build an aluminum smelter, a power plant and a railway line related to the projects,"" Supriyadi told reporters. Earlier this month, Indonesia's trade minister said India's state-run National Aluminium Co Ltd (Nalco) will invest $4 billion in an aluminum smelter and power plant in Indonesia's East Kalimantan province. Source: Reuters"
New plants 'to fire up ME heavy industry'"
The steel industry in the Middle East is on a roll with several major players announcing plans to build new plants and expand production, said experts at the opening of a heavy industry expo in Sharjah. The Thermal Industry Middle East (TIME) is a dedicated show for heavy industry in the Middle East and considered a one-stop shop for steel, aluminum, cement, and glass & ceramic technology. Ahmed Mohamed Al Midfa, chairman of Sharjah Chamber of Commerce & Industry and Expo Centre Sharjah opened the event, which runs up until October 19. 'TIME is a unique event as it caters to the requirement of all heavy industries like steel, cement, aluminum, glass and ceramic segments,' said Al Midfa at the inauguration. The show features specialist suppliers for each of its sub-sections such as Steel-Tech, Alu-Tech, Cement-Tech and Glass & Ceramic-Tech, he added. Also exhibiting are suppliers and manufacturers of industrial spares, components and consumables that are required for all heavy industry. With the steel industry in the Middle East is on a roll, this buoyancy is set to reflect in the visitor turnout and sales at the TIME trade show, the experts added. Source: TradeArabia News Service"
New polymer factory opens in Bahrain"
Bahrain Industry and Commerce Minister Dr. Hassan Fakhro will formally open a new polymer factory at Hidd industrial area. Zayani Polymer Factory, a new state-of-the-art facility producing polypropylene woven sacks and polyethylene greenhouse sheets, has started production at the Bahrain International Investment Park, Hidd. It has the latest machinery from Europe, a highly experienced engineering team and a research and development laboratory. Fully supporting the global no-pollution initiative, the factory uses 100% recyclable technology producing no waste or emissions. The products are widely used for agricultural production. They reduce the effects of the sun and protect plants from harsh weather conditions. Source: TradeArabia News Service"