Bahrain to allow foreign companies to take 100% stakes in oil, natural gas extraction projects

The order, issued by Prime Minister Sheikh Khalifa bin Salman al Khalifa on the 2nd June, states that foreign companies can own 100 percent of oil and natural gas extraction projects as long as they have signed, or be in the final stages of signing an exploration and production agreement with the government.

20 Year/$15m Deal for Bahrain Steel and Anglo American

The 2 companies have been in talks since May 2018 to renew their earlier agreement of 2012. The new agreement “….will enable Bahrain Steel to produce high grade DR pellets with over 67% Fe with combined silica and alumina levels of less than 2.5% and BF pellets of 65% Fe with combined silica and alumina levels of 3.5%”, CEO Dilip George said in a statement.

To read more click here.

New Medical City Expected 2021

Saudi Arabia has granted a fund of $1bn towards the construction of a new Medical City. The contractor will be finalised in June and construction expected to commence in the 3rd quarter of the year. To read more click here.

New Media Law for Bahrain

The new law is currently being developed by the Government and will go next to legislators to fine tune. It will replace the current media law dating 2002.

To read more click here.

2019/20 Bahrain Budget of $34bn on 66 Projects

Bahrain will spend BD675.48m on projects in 2019 and BD676.08m in 2020. The funds will be allocated as follows;
28% – social housing,
24% – public works and roads,
17% – electricity and water networks,
10% – transportation infrastructure,
5% – youth and sports facilities,
5% – health and social services.
The remainder is set aside for miscellaneous projects.
To read more click here.

Bahrain – testing gateway to region

Daniel Seal, Founder & CEO of Unbound, an international expert on entrepreneurship, thought leader on innovation and digital transformation says Bahrain has always been seen as a beta testing gateway to the region. He also said, “What’s great about Bahrain is the warmth of its people, the friendliness around and the kingdom’s open for business message.”

Unbound Bahrain was the main event of Startup Bahrain Week, held on March 6 and 7 in partnership with the Bahrain Economic Development Board (EDB).

To read more click here.

$30m Manufacturing Plant to Open in Bahrain

Universal Rolling (Unirol), opened its newly upgraded and fully automated manufacturing plant here in Bahrain, increasing it’s
its production capacity from 175,000 tonnes per annum to 275,000 tonnes per annum of its high-quality reinforcing steel rods.

To read more click here

ACWA Power to Build Solar Plant

We are pleased to report that our valued Client, ACWA Power, have won on a major contract for the construction and operation of a 100MW independent solar power plant in Bahrain. They were selected from 26 companies who submitted a bid for the tender. To read more click here.

Bahrain Targeting 255 MW of solar capacity by 2025

Expressions of interest are being invited by the Solar Energy Unit (SEU) of Bahrain, in conjunction with the United Nations Development Program, from developers for the Tender to install rooftop solar PV’s on 66 government buildings.

To read more click here.

Bahrain Metro Modernisation

The Bahrain Metro modernisation project is expected to launch in the 4th quarter of 2019 and complete by 2030. It will consist of 6 lines, covering 100+ kilometers with a capacity to serve 43,000 passengers per hour. To read more click here.