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    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    Azerbaijan, Iraq discuss prospects of relations

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    Oman inks pack to bolster role of SMEs in food systems

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    MAFWR, Port of Duqm sign MoU

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      Egypt’s Trade minister, Hungarian ambassador discuss economic relations

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      Turkey eyes $5bn bilateral trade with Qatar

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      Iraq set to award new Faw Port deals

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      Deal signed to set-up first factory in Qatar to assemble electric vehicles

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      Railway line to be built between Mosul, Turkey: governor of Nineveh

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      Madayn working on major Oman industrial city projects

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      Foundation stone laid for new 700-bed hospital is Salalah, Oman

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      Iraq set to award new Faw Port deals

      Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

      Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

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      Miral’s premier Abu Dhabi waterfront project work on track

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      Aecom wins Neom utilities infrastructure design contract

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        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        JGC lands $3.7bn Iraq refinery upgradation project deal

        JGC lands $3.7bn Iraq refinery upgradation project deal

        Tadweer opens phase 2 of solar power plant at Al Dhafra

        Tadweer opens phase 2 of solar power plant at Al Dhafra

        France to help Iraq generate electricity, will invest in education, science: Macron

        France to help Iraq generate electricity, will invest in education, science: Macron

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        Acwa Power inks finance deals for 900MW Dubai solar park

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          Coronavirus: UAE conducting human trials for Covid-19 vaccine

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          UAE sends medical aid to Iraq to fight COVID-19

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          UAE launches phase III trial of inactivated Covid vaccine

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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          Saudi to be among world’s big leisure tourism hubs by 2030

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          Qatar’s hospitality sector peaks despite turbulent 2020

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          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

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          Staycations to stimulate Qatar’s hospitality sector

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          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

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          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Bahrain industry to receive a boost from smelter expansion

              Oxford Business Group

              July 20, 2015
              in Business
              0

              On June 10, Aluminium Bahrain (Alba) announced it had been granted approval to begin work on a new production line, with the project set to make the plant the world’s largest single-site smelter when completed in 2019.

              The $3.5bn Line 6 expansion is forecast to increase the company’s annual output by 514,000 tons to reach 1.45m tons per year when at full production. Alongside construction and installation costs, the budget also covers the building of a new 1350-MW power station, the fifth linked to the Alba complex. The last major upgrade of the Alba plant was in 2005, when the fifth production line was rolled out at a cost of $1.7bn.

              Additional capacity at the plant, which is already the sixth-largest aluminum smelter site in the world by output and the second-largest in the Middle East, is expected to act as a significant driver for economic growth and job creation in Bahrain. It will also spur further profit growth at Alba, which reported a 21% jump in net profit in 2014 to BD96.4m ($257m), according to a report issued in May by state-owned holding company Mumtalakat, which has a 69.4% stake in the firm.

              Value addition
              Alba’s growth has encouraged the clustering of several downstream businesses in Bahrain. Next to the Alba foundry is the Gulf Aluminium Rolling Mill Company (Garmco), the Middle East’s largest facility for making aluminium sheets and coils. Around half of Alba’s output feeds into the domestic market, with the remainder exported.

              According to Jean-Baptiste Lucas, CEO of Garmco, the expansion plan is good news. “Bahrain’s downstream aluminum industry is very happy to see the approval of Alba’s Line 6 expansion plans,” Lucas told OBG. “This will put Alba back in the game as a global player and revitalize the industry, unlocking growth opportunities for downstream companies,” he said, noting how the move will also enable expansion amongst downstream players.

              Beyond the immediate advantages for local industrial companies, the Alba expansion could also serve to attract industrial foreign direct investment, despite rising competition − both in the region and globally. “Bahrain is still competitive in industry and has a good chance at attracting international companies who are interested in the Middle East,” said Lucas. “Factories with a small- or mid-sized footprint like auto parts suppliers could find many advantages in coming to Bahrain.”

              The construction of the Alba extension, which is scheduled to start next year, is also expected to support growth in other sectors. According to Marco Neelsen, the CEO of port operator APM Terminals Bahrain, which manages the Khalifa Bin Salman Port, the Line 6 project is expected to bring new business to transportation and logistics companies. Up to 700,000 tons of imports are estimated to be required for the building of the new Line 6, he told OBG.

              Further diversification
              Many of the same competitive advantages that drove the creation of Alba in 1968 – the low cost of raw materials, competitive energy prices and skilled labor – continue to draw manufacturing interests to Bahrain. Serving as a platform for the Saudi Arabian market, in addition to the rest of the Middle East, Bahrain’s ease of doing business and access to international markets has led to a thriving sector.

              Indeed, manufacturing continues to be a major contributor to growth in the kingdom. Bahrain’s headline real GDP expanded 2.9% year-on-year (y-o-y) in the first quarter, according to a report issued by the Economic Development Board in June. Growth in the non-oil economy, which constitutes more than 80% of the kingdom’s GDP, reached 5.0%, while manufacturing grew 5.9% y-o-y in the quarter, after a 4.2% rise in 2014.

              According to other industry participants, the country must push to strengthen and diversify the economy as well as look to streamline some of its bureaucratic procedures to speed up new developments. “Bahrain should look beyond oil for income,” Jalal Mohammed Jalal, managing director of mixed activity conglomerate Mohammed Jalal & Sons Group, told OBG. “Gulf Petrochemical Industries Company was a great step in the right direction but since then, new industry has slowed and this is the major problem we're facing today.”
              Oxford Business Group
              20 July

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