Bahrain’s First Sugar Plant to Start Early 2013, Alwasat Says

Bahrain’s first sugar-refining plant is due to start operating early next year, Alwasat newspaper reported, citing the International Investment Bank, which holds a 22 percent stake in the project.

The project’s capital is $99 million and it will produce 585,000 metric tons of refined sugar a year, the newspaper said, citing the bank’s chief executive officer, Aabed al-Zeera.

An agreement has already been signed to sell part of the plant’s production to a wholesaler in Saudi Arabia and management are in talks with buyers in Iraq and other neighboring Persian Gulf countries, al-Zeera told the daily.

To contact the reporter on this story: Wael Mahdi in Manama at wmahdi@bloomberg.net

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.