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AMAR Holding Company has launched the first phase of a multi-million dinar investment park in Hidd which includes light industrial and logistics services and facilities, warehouses, a business park, labour accommodation and retail shops.
"We are pleased to announce the commencement of activities associated with the first phase of an integrated investment park in Hidd," said chairman of the company and chief executive officer and board member of Al Salam Bank Bahrain Yousif Abdulla Taqi.
He said that the project reflects the confidence of the company and its board of directors in the ability of the Bahraini economy to overcome the global financial crisis.
Mr Taqi added that he expected a bright future for light industrial and logistics services in Bahrain in general and the Hidd area, in particular, given the opening of Khalifa Bin Salman Port and the expansion of Bahrain International Airport. The availability of a modern network of roads linking Hidd to all important destinations in Bahrain and the King Fahad Causeway was a further boost for the area.
He believes the project will promote a picture of a flourishing Bahraini economy and help to draw further investments and projects to the area. These will in turn bring with them advanced technologies, attract international investments and enterprise start-ups and support the efforts of the government in creating well-paid jobs for competent Bahrainis.
Amar Holding Company chief executive officer Dr Hassan Al Bastaki provided further details of the project explaining that the first phase will cover an estimated area of 600,000 sq/m and the estimated cost of preparing the land and building the infrastructure is BD50 million.
The company has already appointed a number of internationally-renowned consulting firms.
The main features of the project include a logistics and warehousing component, an area designated for business offices and another for labour accommodation, in addition to a number of commercial and retail shops necessary to service the area.
Additional details about the project are expected to be revealed in the near future after all necessary studies are completed and all required approvals and permits from the authorities obtained.
