NOGA opens US$20 million joint venture
Manama : Nogaholding, the investment and business development arm of National Oil and Gas Authority (NOGA), and Schmidt Heilbronn yesterday inaugurated its new joint venture facility, Schmidt Logistics Bahrain.
The US$20 million facility will create around 100 jobs in the logistics sector (directly and indirectly). It is located in the Bahrain Logistics Zone and will support the zone’s expanding operations, particularly in the chemical and petrochemical logistics market.
The centre was opened by Shaikh Mohamed bin Khalifa Al Khalifa, the Minister of Oil and Chairman of nogaholding, and Thomas Schmidt, CEO and Managing Partner of Schmidt Group.
“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,” said Shaikh Mohamed bin Khalifa Al Khalifa in his inaugural address.
The event was attended by high dignitaries and officials including Kamal Ahmed, Minister of Transportation and Telecommunications; Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board (EDB); Dr. Mohammed bin Dainah, CEO of the Supreme Council for Environment; Dr. Dafer Al Jalahma, Chief Executive at nogaholding and Chairman of Schmidt Logistics Bahrain; and Bassam Al Khaja, General Manager of Schmidt Logistics Bahrain among other officials and dignitaries.
Dr. Dafer Al Jalahma, Chief Executive at nogaholding and Chairman of Schmidt Logistics Bahrain said the new facility will facilitate quicker and easier transportation of goods around the GCC.
Joint efforts from nogaholding, the Ministry of Transportation and Telecommunications, Bahrain EDB, Supreme Council for the Environment and Customs Affairs have led to the establishment of Schmidt Logistics Bahrain.
“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,” said Khalid Al Rumaihi.
The minister also pointed out that the manufacturing and logistics sector is one of the strongest in the Kingdom and Bahrain attracted more than USD 200 million 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.
The Bahrain Logistics Zone offers competitive set up and operational rates, specialised services for import/export and re-export activities, efficient turnaround times and close proximity to transportation hubs such as the Khalifa Bin Salman Port and Bahrain International Airport.
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