EDB announces $16.65 million in investments

Bengaluru, The Economic Development Board (EDB), with support from Team Bahrain, has attracted $16.65 million in expected investments for the establishment and expansion of three leading Indian companies in the sectors of industry, renewable energy, and ICT. This came as part of the EDB delegation's visit to Mumbai, Bengaluru, and Chennai to strengthen economic ties with India and attract direct investments to Bahrain, contributing to job creation. Among these investments is KIMCO, which will expand its plant in Bahrain for the third time since announcing plans to establish a factory in 2013. The expansion aims to increase production capacity for rigid plastic packaging at the Bahrain International Investment Park and introduce fully automated production lines to meet rising demand in Bahrain's consumer goods sector. Founded in India in 1980, KIMCO has grown its production and packaging solutions, maintaining a commitment to sustainable packaging through recycling initiatives. Additionally, Bajaj Industri es will develop an 11.40 MW solar project in Bahrain, having secured a 10-year contract with APM Terminals Bahrain, the operator of Khalifa Bin Salman Port. Founded in 1989 as a manufacturer of dyes and intermediates, Bajaj Industries has since diversified into solar power generation. The Bahrain project marks the company's first international expansion in solar energy, reinforcing Bahrain's renewable energy commitment. Furthermore, an Indian ICT company announced the establishment of its regional headquarters in Bahrain, supporting the Kingdom's growing capabilities in technology and artificial intelligence. This investment will contribute to Bahrain's efforts to build a smart digital economy, powered by highly skilled and future-ready talent. Bahrain's thriving business environment, strategic location, and supportive government policies continue to attract significant Indian investments. The cumulative stock of Indian direct investments in Bahrain grew by 36.6%, with an average annual contribution of $102 million between 2019 and 2023, reaching a total of $1.52 billion in 2023. Source: Bahrain News Agency