Major milestone

The new Salman Industrial City is expected to attract investments of more than $7.5 billion and create thousands of jobs.

His Majesty King Hamad officially laid the foundation stone for the city on Wednesday.

The ceremony was attended by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and Economic Development Board chairman, Ruling Family members, ministers, Shura and parliament members, dignitaries and guests.

Industry and Commerce Minister Dr Hassan Fakhro said investments in the city were undergoing a remarkable surge, with around $3.5 billion (BD1.3 billion) having already been invested.

"We believe that this growth will continue and reach more than $7.6 billion (BD2.8 billion) in the next few years," he told the ceremony.

Dr Fakhro said the city was an ambitious industrial initiative of His Majesty, embracing the Hidd Industrial Area, which includes dozens of the most important industries in the kingdom; Bahrain International Investment Park, which has large advanced manufacturing projects and Bahrain Investment Wharf, which is one of the unique projects in Bahrain for its quality, size and management.

Around 15,500 people are already employed in these areas and this is expected to grow to around 34,000 in just a few years, said Dr Fakhro.

Dr Fakhro paid tribute to His Majesty's vision and said the ceremony marked yet another milestone in building a solid underlying structure for the future of Bahrain.

"As part of Bahrain's Vision 2030 for economic development, this achievement compliments the great strides that have already been achieved," he said.

Dr Fakhro paid tribute to investors who are part of the industrial city.

"We must never lose sight of the importance of the private sector entrepreneurs and managers to our overall well-being," said Dr Fakhro.

"It is their courage; their vision and their dynamism which helps create the opportunities for men and women of all ages to secure employment in a variety of disciplines."

His Majesty said "this pioneering project promises a more radiant future for Bahrain and its people on all levels".

He described the mega city as reflecting his development strategy and Bahrain's Economic Vision 2030. "The city is a new industrial start for Bahrain and the cornerstone of our ambitious vision and strategy," he said.

Initially named King Hamad Industrial City, His Majesty renamed the iconic development after the Crown Prince. He highlighted the importance of the project as a key complement for the iconic Khalifa bin Salman Port, the biggest in Bahrain.

He also pointed out its strategic location, being close to Bahrain International Airport and the highway leading to King Fahad Causeway.

The city, he said, will also benefit from the planned friendship Bahrain-Qatar Causeway.

It will play a pivotal role as a catalyst for industry and commerce and a cornerstone for investment and service infrastructure.

It will also benefit from oil and gas resources, in addition to the Free Trade Agreement bonding Bahrain and the US.

He hailed the kingdom's booming economy, paying tribute to the pivotal role of the private sector in spearheading its growth.

"Bahrain has gained the edge in attracting leading industrial companies and huge capital thanks to the efforts of its skilled people," he said.

He paid tribute to the government led by HRH the Premier for "laying the foundations for the colossal monument, outlining policies and modernising infrastructure".