60,000sqm Public Park to Be Built

The 60,000 sqm park will include a tree conservation area, jogging track, playing fields, children’s play area and a sand dune park and will include scupltures by Bahraini artists.  The park will be built by a Malaysian firm and will be located in Hamad Town.

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6 Major Infrastructure Tenders Awarded

The Assistant Under-Secretary for Service, of the Municipality and Urban Planning Affairs, Mr. Ahmed Al Khayyat revealed that the ministry awarded six tenders worth BD2,893,470.  In addition the ministry invited bids for 11 roads and sanitary and construction tenders worth BD4,020,108 during April of this year.

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Bahrain to remain a key center of Islamic finance

Dr. Ahmed Al Mutawa, Chairman of Gulf Finance House (GFH), told Euromoney on Wednesday, “……Bahrain hosts over 30 Islamic Institutions, who continue to reside here due to the supportive and developed regulatory framework fostered by the CBB,” he added.

It is expected that as Bahrain is one of the historical centers of Islamic finance, it will continue to remain that way, despite increased competition from other financial centers in the region and outside.

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Bahrain refinery expansion project ‘to cost $5 billion’

Bahrain’s Sitra crude oil refinery expansion is expected to cost around $5 billion with the completion by 2019, the energy minister said yesterday.

He went on to say ‘The increase in capacity according to the current plan is from 260,000 barrels per day to 360,000 and it will be commissioned by 2019. Financing will be through borrowing, we haven’t finalised this yet.’

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