Bahrain signs $10m worth of trade agreements with US firms
The agreements included an MoU signed by Alba and GE to implement the fourth gas turbine unit at Power Plant 5
Bahrain-based companies have signed trade deals worth $10m (BHD3.8m) with American firms, it has been announced.
Spanning several sectors, such as economy, industry, oil, and aviation, the agreements were signed on the sidelines of a recent official visit to the US made by HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister.
At a reception organised by the Bahrain Economic Development Board (EDB), in cooperation with the American Chamber of Commerce and the Bahrain American Business Council, HRH Prince Salman revealed that more than 200 American companies have chosen to operate in Bahrain, including Amazon Web Services (AWS), which is due to open its first regional headquarters in the kingdom.
The agreements included a deal between Bahrain Petroleum Company (BAPCO) and Technip FMC for the BAPCO Modernisation Programme, Bahrain News Agency (BNA) reported.
Moreover, a memorandum of understanding (MoU) was signed by Aluminium Bahrain (Alba) and General Electric (GE) to implement the fourth gas turbine unit at Power Plant 5.
Alba also signed an agreement with Bechtel for the Alba Line 6 expansion project. The agreement is expected to turn Alba into the largest single-site aluminium smelter in the world, BNA added.
Bahrain aims to develop positive opportunities for businesses by transforming the public sector from being the main engine of the economy to being a private sector regulator and partner, according to HRH Prince Salman.