Multi-million dinar deal to set up sugar factory

A multi-million dinar agreement has been signed to set up a sugar manufacturing project at Salman Industrial Town.

The Industry and Commerce Ministry signed the deal, under which it will lease a plot to Bahrain Sugar Refinery to launch the project at the Bahrain International Investment Park (BIIP).

“Up to BD70m will be invested in the project which will be set up in the leased land covering around 107,000 square metres, said assistant under-secretary for industrial development Dr Khalid Fahd Al Alawi.

Bahrain Sugar Refinery had acquired the stalled sugar factory in a public auction for $21.2 million.

The plant, which is expected to start operations during the first quarter of next year, will produce 600,000 tonnes of sugar annually.

It will also have the capacity to produce about 7,000 tonnes of molasses and 10,000 tonnes of yeast.

The company intends to invest BD70m to operate the factory, then expand it in the future by establishing new production lines within integrated industrial complexes.

The investment project will be able to provide more than 200 jobs once completed.

“Sugar refining is one of the targeted sectors under the 2022-2026 Industrial Strategy,” said Dr Al Alawi.

He commended the role of Bahrain Sugary Refinery in supporting the food industry, noting that the project is expected to increase the contribution of the industrial sector to the GDP, boost exports of national origin and generate jobs for Bahrainis.

He highlighted Team Bahrain’s efforts to attract local and foreign companies, in cooperation with the Economic Development Board, as Bahrain is embarking on the economic recovery strategy.

He praised Bahrain Sugar Refinery’s experience in the sugar industry in Oman and other countries.

Source: https://www.gdnonline.com/Details/1149322