indian companies among top 3 investors in bahrain - polyester film stock
: A series of incentives including tariffs
Free access to Saudi Arabia, the region's largest market, Indian companies are investing $0. 231 billion in Bahrain's international investment Park (BIIP)
Top three investors.
"India is one of the three major locations where we make foreign investments in the park," said senior BIIP officials . ".
Thanks to Bahrain's free trade agreement with us, the park's companies also receive tariff benefits in the US market.
Companies investing in the park include JBF industry, Chemco plastics and thyroid care.
JBF, which is investing $0. 2 billion, is one of BIIP's largest companies and has now started operations and Chemco is investing $10 million.
JBF produces Polyester Yarn and Polyester film.
Chemco, when counting Coca-Cola and cleaning (RB)and Mondelez (
Used to be Kraft food.
As its client, operations will begin in early 2015.
In addition to RB and Yizi, the park also has subsidiaries of German engineering giant Siemens and chemical giant BASF.
"We want to invest in a place with 100% ownership in the Middle East," said banimal Sharma, general manager of Chemco . " He is trying in Bahrain.
In addition to full ownership, BIIP provides 4 cents of electricity (around Rs. 2. 4)
A unit that allows 100% expats to be employed in the first five years and free access to the Gulf Cooperation Council (
Gulf Cooperation Councilmarket.
Companies in Bahrain also do not have to pay corporate taxes.
Maria Gilsenan, director of marketing at BIIP, said the tax-free passage offered 5% of the benefits to companies operating outside the park.
Sharma said that companies operating in duty-free zones in the region must pay a 5% tariff if they sell products outside the duty-free zone.
"The cost of electricity is much better than anywhere else (in the GCC).
Cost of Living (in Bahrain)
It's about 30% lower than Dubai, "Sharma said.
Chemco chose to set up its first overseas plant in Bahrain, with electricity accounting for about 60% of the total cost.