Bahrain plans $22bn investment in infrastructure
Modernisation of Bahrain International Airport among projects
Bahrain is set to invest up to $22bn (BHD8.29bn) in infrastructure over the next four years, Kamal bin Ahmed, Minister of Transportation and acting chief executive of the Bahrain Economic Development Board (EDB) has revealed.
The projects include the Bahrain International Airport modernisation project, expansion of the Aluminium Bahrain (ALBA) smelter, investment projects in Durrat Al Bahrain, the development of Al Jazair Beach, and the modernisation project being carried out by Bahrain Petroleum Company (Bapco), among others.
“These are important investments that promise opportunities to international investors as well as strengthening connectivity with the region. The infrastructure projects are part of a wider effort by the Kingdom, which aim at diversifying the economy, as well as drawing quality investment, in order to support long term sustainable growth, create quality job opportunities, and increase the standards of living,” the minister said.
“Our current focus is on ensuring that the positive economic outcomes of these projects are experienced in the Kingdom through cooperation with different parties and government institutions, to implement them in a timely manner, so that their positive effects can be reflected on the national economy in the quickest possible time. Additionally, working with the different concerned parties will ensure that we are able to meet the required goals of each project,” he added.
The modernisation project at Bahrain International Airport is currently underway and will increase the airport’s capacity from nine million to more than 14mn passengers.
Bahrain is also investing in other areas, including housing and its accompanying infrastructure projects, which represent one of the Kingdom’s priorities, and is included in the $10bn GCC Development Fund.
Bahrain aims to build 40,000 new housing units, along with investment in education facilities to support this growth.