Kuwait Finance awards Bahrain Industrial Oasis contract

15 January 2008

Kuwait Finance House (KFH) has awarded Bahrain’s Poullaides Construction Company a $32m contract for the construction of the KFH Bahrain Industrial Oasis.

KFH-Bahrain, a wholly-owned subsidiary of KFH, will invest more than $35m to develop phase one of the project. This will comprise the construction of factory units for leasing purposes and a central six-storey building. Construction work is expected to be completed by the end of 2011.

Bahrain Industrial Oasis is part of the Bahrain International Investment Park (BIIP) located in the Hidd industrial zone. BIIP covers more than 250 hectares and aims to attract investment in the technology, manufacturing and service sectors. It is part of government's economic diversification efforts to promote industrial development in the kingdom.

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