India’s Titan, Aerolam Middle East to invest US$45 million in Bahrain
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Two industrial behemoths from India, Aerolam Middle East and Titan Company Limited (Titan), are to set foot in Bahrain bringing around US$45 million investment to the Kingdom.
Bahrain’s Economic Development Board announced this milestone achievement during a recent visit by a high-level Bahraini delegation to India.
Titan, a part of the billion-dollar Tata group, is the world’s fifth-largest wristwatch manufacturer and plans to launch Tanishq, its flagship and fastest-growing fine jewelry brand in India, in Bahrain with an expected investment of around USD 30 million.
Tanishq currently has a presence of 410 stores and is India’s most trusted jewellery brand with an extremely high brand recall.
Naresh Nair, Head of operations, at Tanishq, said, “We have earmarked the location of our first store and will be opening 3 retail outlets over a span of 15 months to 18 months.”
Similarly, Aerolam Middle East is establishing its first overseas manufacturing unit in Bahrain with an investment of USD 14.5 million.
The plant will operate out of Bahrain International Investment Park (BIIP).
The company, a subsidiary of Aerolam Insulations from India, specialises in the production of insulation materials like foam sheets and Cross-Linked Polyethylene pipes, using cutting-edge engineering and research and development techniques.
“We are thrilled to have the unwavering support of the Bahraini government as we establish our first manufacturing unit outside of Gujarat, India,” said Brijesh Patel, Managing Director at Aerolam Insulations Pvt. Ltd.
“Bahrain’s strategic location and advanced logistics infrastructure make it an ideal choice for us to serve the GCC region with greater efficiency and speed.”
Ali AlMudaifa, Chief of Business Development at Bahrain EDB, also expressed optimism about the investments, stating, “With Bahrain’s business-friendly environment and state-ofthe-art logistics infrastructure, we anticipate both companies will establish a strong presence in Bahrain, contributing to the diversity of our economy and leveraging Bahrain’s position as a gateway to the region.”
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