22 December 2013

Chemco Group to establish factory in Bahrain

Manama, Economic Development Board - 22 December 2013 - Indian PET manufacturing company, Chemco Group, is set to establish a factory at the Bahrain International Investment Park (BIIP) in Salman Industrial City . Chemco’s investment in Bahrain is expected to reach US$ 10 Million with systematic expansion planned up until 2015 and is expected to reach US$ 20 Million by 2017. Moreover, the new facility will create over 80 jobs for the local market, and is expected to increase by 15 - 20% year on year to create at least 20 more jobs by 2017.

HE Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the Bahrain EDB, commented: “Our longstanding ties with India have proven that it is an important economic partner for us, particularly as Indian companies have found Bahrain to be an ideal location for investment, in terms of its business environment, transparent progressive legislations, and of course the cultural and environmental similarities between the two countries.”

Chemco Group chairman Ram Saraogi said: “We are proud to establish a factory for our group in Bahrain, which has a unique business environment, a diverse economy as well as a vibrant location that acts as a gateway to the Gulf market.”

The announcement follows an introductory visit led by the Bahrain Economic Development Board (EDB) who provided support. Through the support of the EDB, the company was able to obtain a license for operations and establish its factory in Bahrain. This is in line with the EDB’s role of promoting Foreign Direct Investment (FDI) into Bahrain.

Chemco Group was established in 1980, and it is one of the leading manufacturers of PET preforms in Asia with a 26% market share inclusive of exports. The Group is specialised in manufacturing bottles and jars of various sizes and shapes ranging from 15ml to 25,000ml all under one roof. It has many clients including, Coca Cola, Pepsi, Reckitt Benckiser and many other international manufacturing companies.

The GCC has experienced a period of rapid growth in recent years, where the region’s market value for plastic packaging industry currently worth approximately US$ 400 million. Growth is forecast to continue with plastics consumption set to grow 8% by 2020.

Source: Bahrain Economic Development Board (EDB)