Bahrain plans cement venture

Bahrain plans cement venture
13 October 2005

Bahrain’s first cement company has been formed in response to rocketing cement consumption, which is a direct result of the country’s booming construction and real estate sectors. The US$45m project is an industrial venture between Khaleej Finance and Investment (KFI) and Bahrain Motor Company (BMC). They have signed a formal agreement to set up a smallscale cement manufacturing company called Falcon Cement Co BSC, which will produce clinker and cement. Construction of phase one of the project is expected to start in the first quarter of next year.

Qays H Zu’bi has been appointed by KFI as the legal advisor for the project. The shareholders are KFI and BMC, but they say others could come forward from across the region. The industrial venture was signed by Mr Hadi and BMC chief executive officer Ahmed Ali Karimi. "This project is considered to be one of the most important projects in the Kingdom and will fill the gap in the cement manufacturing and export of cement that coincides with consumer consumption," said Mr Karimi.

"Based on our experience in the manufacturing sector and the production of raw material, we have started our financial and market research in collaboration with technical consultants Ercom Engineers Pvt Ltd. "Ercom is a full service engineering firm specialising in structural design, mechanical, electrical, and construction management for this kind of project."

The new factory is expected to create 130 jobs and will be built at Hafeera Industrial area in collaboration with the Commerce and Industry Ministry. "The project is in agreement with the environmental and technical government requirements and is expected to offer employment opportunities for 130 managerial and trained workers," added Mr Karimi.

Published under Cement News