Schmidt, nogaholding open $20m logistics facility in Bahrain
Schmidt Logistics Bahrain, a joint venture between Schmidt Heilbronn and nogaholding, has opened a $20m logistics facility in Bahrain Logistics Zone
Schmidt Logistics Bahrain has inaugurated a $20m (BHD7.6m) facility in Bahrain Logistics Zone.
The company – a joint venture (JV) between Belgium’s Schmidt Heilbronn and nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (NOGA) –predicts that the facility will result in the creation of 100 direct and indirect jobs.
The development is also expected to support Bahrain Logistics Zone’s expanding operations, particularly within the chemical and petrochemical logistics segment.
HE Shaikh Mohamed bin Khalifa Al Khalifa, the country’s Minister of Oil and chairman of nogaholding, commented: “We would like to congratulate Schmidt on the launch of our new joint venture facility here in Bahrain, where there is great demand for its highly specialised services.
“Our new facility will have a significant positive impact on the regional chemical and petrochemical industries, and facilitate quicker and easier transportation of goods around the GCC. Through our partnership with Schmidt, we are proud to have supported the establishment of this facility, and will continue to provide support for its operations in the future.”
Thomas Schmidt, chief executive officer and managing partner of Schmidt Group, said that the development reflected “huge growth” in the Middle East’s logistics industry.
“It also represents the confidence we have in Bahrain as one of our key strategic operational bases in the Gulf region,” he continued. “We originally chose to locate a significant portion of our services in Bahrain because of the strong transportation links with neighbouring countries, excellent infrastructure, and supportive regulations. We are now in a position to be able to capitalise further on these competitive advantages, and expand our regional offering.”
In addition to nogaholding and Schmidt Heilbronn, the establishment of the Schmidt Logistics Bahrain JV entity involved efforts from Bahrain Economic Development Board (Bahrain EDB) and the country’s Ministry of Transportation and Telecommunications.
Speaking at the logistics facility’s inauguration, HE Khalid Al Rumaihi, chief executive of Bahrain EDB, said: “The manufacturing and logistics sector is one of the strongest in the kingdom, and Bahrain attracted more than $200m (BHD75.4m) of investment into this sector in the first half of the year – investments that will create more than 1,000 jobs over the next three years.
“Joint investments, such as Schmidt Logistics Bahrain, enable the growth of this world-class industry and attract companies with specialised expertise and operational skills to Bahrain to support the supply chain, creating high-quality employment opportunities for the local market,” HE Al Rumaihi added.