Mumtalakat 2016 Annual Report


Investing for Bahrain

This is how we shape our future. Through our diverse investments in Bahrain, we play a fundamental role in the Kingdom’s economy and lead our core focus to grow the wealth of the country, realising our assets value, investing in high growth sectors, and entrenching corporate governance standards. With investments in around 29 companies in Bahrain, we provide over 13,400 direct jobs within our local companies, making us a prominent actor in Bahrain’s economy.

200 jobs will be created through the establishment of Mueller Middle East

As Bahrain is uniquely positioned as the natural gateway to the Arabian Gulf countries, a US $1.5 trillion market, we offer our partners international business presence in Bahrain for investors that want to capitalise on the Middle East’s growth potential. This was reflected in our joint venture with Mueller Industries and Cayan Ventures, to develop the first copper manufacturing facility in Bahrain. The new facility that holds the name Mueller Middle East will create over 200 jobs and will make a positive contribution to the local economy. The parties will invest approximately US $40 million in the facility, which will address the increasing demand for quality copper tubes in the MENA region which is currently almost supplied entirely by East Asia.

The copper tube mill will be located at the Bahrain International Investment Park (BIIP) and will produce commercial copper tubes to serve regional air conditioning and refrigeration (ACR) original equipment manufacturers (OEMs).

Over 5,000 new jobs will be created through Edamah projects

Through our real estate arm, Edamah, we support the development of the country’s infrastructure, real estate and tourism sectors, transforming community spaces and enhancing people’s lifestyles. In 2016, Edamah launched a number of projects which collectively will create over 5,000 jobs opportunities upon their completion.

Following the endorsement of HRH Prince Khalifa bin Salman Al Khalifa, the Prime Minister, and under the guidance of HE Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister and Chairman of Edamah, the company launched its Muharraq Waterfront Project (Saada), with the objective of introducing a central car-parking station to the area and linking Muharraq’s historical souq with a modern waterfront. The project is estimated to cost US $143 million and site work is due to commence during 2017. The project will create 1,000 jobs.

Edamah also launched its plans to transform Hawar into a signature eco-friendly tourism destination. The development of North Hawar will be executed in two phases: Phase one will comprise of the development of a 350 room lagoon resort, 150 eco-friendly apartments and villas. The second phase will include the renovation of the 100-year-old Hawar mosque and the development of a bird research centre, a 150 room boutique hotel and a heritage market, 155 residential villas, and a 200 rooms wellness resort and spa. Upon completion, the project will position Hawar on the world map of island resort living, bolstering the local and regional tourism industry, creating around 3,000 jobs.

Furthermore, the company continued with its plan to develop Fairmont Resort Bahrain at Al Jazayer beach located in South of Bahrain. Comprising a public beach, retail and restaurant outlets, hospitality components and entertainment facilities, the resort will create around 600 jobs and will boost the tourism sector in the country.

Other community-based service oriented projects of Edamah include the building of carparks and retail spaces which will address the parking needs in the Kingdom and reduce the overall traffic congestion. These projects will collectively provide around 500 new work opportunities.

Alba’s Line 6 will create around 500 new jobs in Alba and will boost the downstream aluminium industry

Our investments in Bahrain continue to grow with Alba’s Line 6 expansion project. The US $3.5 billion project is expected to begin production by the year 2019 and will boost Alba’s production by 540,000 metric tonnes which will increase the total capacity to 1.5 million metric tonnes per year. The project will make Alba the world’s largest single-site aluminium smelter, create an additional 500 jobs in Alba, boosting Bahrain’s industrial aluminium industry.