BizBahrain May-June 2017

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Highlights | Other Business US$515 million Syndicated Financing facility signed Bahrain National Gas Expansion Company S.P.C (TAWSEAH), which owns and operates one of the two associated gas processing facilities in Bahrain, announced the successful signing of US$ 515 million, 8 year syndicated financing facility. The facility was raised to part finance the expansion of the Company’s gas processing facilities which include: (1) a central gas processing (CGP) train with a capacity of 350 million standard cubic feet per day (MMSCFD); and (2) pipeline and storage facilities at Sitra Wharf to cater for the enhanced capacity GIB Capital acted as the sole financial advisor to the Company on the Project. The gas processing plants are of strategic importance to Bahrain’s economy and are an integral part of national energy infrastructure. The gas processing plants extract Natural Gas Liquids (NGLs) that are exported on one hand and on the other; the residue dry gas supplements the natural gas supply to power plants and other major industrial end users. The new plant will also play an important role in supporting Tatweer’s Enhanced Oil Recovery (EOR) plans. JGC Corporation and JGC Gulf International were appointed as the engineering, procurement and construction contractors (“EPC”) for the Project. The construction work of the Project is expected to be completed in 34 months from the signing date of the CGP III EPC with commissioning expected by Q4 2018. Mueller ME introduces first Copper Tube Manufacturing facility Mueller Middle East announced the commencement of construction of the first copper tube manufacturing facility in the Middle East region, which will address the increasing demand for quality copper tubes in the GCC market, create over 200 jobs, and have a positive impact on the local economy in the Kingdom of Bahrain. The announcement follows a groundbreaking ceremony which was held at the Bahrain International Investment Park (BIIP) where the facility is currently under construction. Mueller Middle East B.S.C. (c) was established in January 2016 as a Joint Venture between Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of the Kingdom of Bahrain; Mueller Industries Inc. (Mueller), a leading manufacturer and distributor of flow control and industrial products listed on the NYSE; and Cayan Industrial Projects WLL (Cayan), a GCC-based industrial projects developer and investor. The facility will produce commercial copper tubes to serve regional air conditioning and refrigeration original equipment manufacturers. It is the latest international company to sign a lease to establish a production facility in the Bahrain International Investment Park (BIIP). When it commences production in January 2018 it will be one of over 80 companies serving GCC and international markets from this strategic location. Bank ABC is the funding partner for the Joint Venture. As part of the Joint Venture, Mueller Industries is localizing the technology and know-how of the production facility. Welcoming the investment H.E. Zayed R. Alzayani, Minister for Industry, Commerce and Tourism said, “This important investment, supported by Mumtalakat, represents a vote of confidence in Bahrain and BIIP as a highly competitive location from which to service regional and international markets.” GARMCO’s new Remelt facility on track Bahrain Mumtalakat Holding Company (Mumtalakat) CEO, Mahmood Alkooheji, has paid a site visit to GARMCO’s, a Mumtalakat portfolio company, recently-announced US$ 55 million new state of the art recycling and cast house facility. The construction of the new facility, a re-melt operation is designed to develop GARMCO’s metal recycling capability, which will increase GARMCO’s production capacity by 150% to 200,000 tonnes of aluminium slabs per annum. During the site inspection, Mr. Mahmood Hashim Alkooheji commented, “We are pleased with the progress of this project which will further develop the Kingdom’s downstream aluminium industry. The manufacturing sector accounts for 20% of Bahrain’s GDP and such projects will boost the Kingdom’s exports. The aluminium industry is a key area of focus for Mumtalakat.” He further explained, “We aim to leverage our sector expertise and extensive regional and international networks to help GARMCO meet its growth objectives.” This expansion comes as part of a three-year programme aimed at lowering the cost of metal. Mahmood H.Alkooheji Chief Executive Officer, Mumtalakat “We see this as a major step forward in the next stage of GARMCO’s development and the progression of the aluminium industry in Bahrain. It will also contribute to the development of recycling programmes in the region. ” added GARMCO’s Acting CEO, Mr. Mohamed Essa. 86 May-June 2017
Other Business APM Terminals Bahrain initiates Digitization BAC, Chinese officials discuss Business opportunities Gulf Air selects Recaro to supply Economy class seats APM Terminals Bahrain, the operator of Khalifa Bin Salman Port (KBSP), is embarking on digital transformation of the port with a new General Cargo Terminal Operating System (GC-TOS) to optimize operational efficiency and customer experience. The new system, which will initially focus on digitizing KBSP’s maritime services followed by General Cargo and Billing, will be key to driving greater transparency and turnaround times, resulting in faster and efficient cargo flow at the Kingdom’s world-class commercial port. The implementation of the GS TOS is a critical first step by APM Terminals towards digital transformation to improve the management data between the port, cargo owners, shipping lines and other stakeholders. With this, the planning capabilities of the port will get enhanced through a centralized information portal including cargo booking and movement, documentation, pre-arrival notifications to name a few. This will further facilitate immediate improvements in terminal productivity and customer service. According to Mark Hardiman, CEO/Managing Director of APM Terminals Bahrain, “The rapidly changing maritime landscape calls for continuous investments and transformations in port operations and logistical solutions, to satisfy customer requirements and growing general cargo volumes. Integrating digital solutions into our transshipment operations will help catalyze the collaboration and coordination among the many stakeholders and help us to manage activities at the quay, yard and gate.” “Most importantly, it will maximize efficiencies for the entire supply chain providing stakeholders real-time data and insights, transparency and reliability; creating business value for them. Bahrain Airport Company (BAC), held a series of meetings with its Chinese counterparts and targeted airlines in China to present business opportunities and explore the possibilities of furthering cooperation between the two countries in the field of aviation. BAC Chief Commercial Officer, Ayman Zainal, and Head of Route Development, Nawal Al Majed, represented BAC at the meetings, which were also attended by Bahrain EDB representatives. Ayman Zainal said, “Bahrain enjoys a strategic location with access to the lucrative Saudi Arabian market, which is the largest market in the GCC region, and our airport has positional advantages that could be leveraged to tap into the Saudi market. We offer key advantages for Chinese airlines, such as easy and liberal visa policies that give 67 countries visas upon arrival, and 114 countries access to e-visas. This makes us prime candidates for working with Chinese airline markets. We hope these meetings will produce more cooperated efforts between the two countries in the near future.” The meetings come as part of a broader initiative to elevate aviation and tourism in the Kingdom, with more than $30 billion in investment expected for infrastructure development. The number of Chinese arrivals at BIA has also been steadily increasing in recent years, rising by more than 60%, from 22,682 passengers in 2014 to 36,478 in 2016. Bahrain has traditionally had strong economic ties with China, with the two countries signing a bilateral trade agreement in 2000. Currently, nearly 960 Non-Resident Chinese employees and investors are registered in Bahrain, with 44% working in real estate, renting, and business activities, and 38% in wholesale and retail. G ulf Air has appointed German aircraft manufacturer Recaro Aircraft Seating to supply Recaro CL3710 economy class aircraft seats for the airline’s 10 new Boeing 787-9 aircraft and 29 Airbus 320/321neo aircraft. The contract, which is valued at over 35 million euros, was signed at this year’s Aircraft Interiors Expo in Hamburg. “Gulf Air guests rightly expect an exceptional level of service and quality on board our aircraft - and as we expand and modernise our fleet, Recaro’s economy class seats fit perfectly into our new cabin concept, guaranteeing a pleasant travel experience for our passengers and standardising our product across our short and longhaul fleet,” said Mr. Maher Salman Al Musallam, Gulf Air Chief Executive Officer. Since 2009, Gulf Air has deployed Recaro seats on the airline’s short-haul routes in both economy and business / Falcon Gold class. Gulf Air’s incoming fleet is composed of Boeing 787-9 Dreamliners, Airbus A321neo and Airbus A320neo aircraft, and the airline is committed to ongoing investment in its product and service offering. Reliability, design and comfort played an important role in Gulf Air once again opting for Recaro as seat supplier. The CL3710 stands for quality, exceptional design and comfort on longhaul flights. The multi-award-winning “made by Recaro” economy class seat uniquely features a flexible and individually adjustable headrest, stateof-the-art IFE systems and extra legroom for passengers. Its modular lightweight construction also offers a great variety of options to aircraft manufacturers and airlines. May-June 2017 87
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Dr. Jassim Haji Director Informatio
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Interview | Dr. Jassim Haji explain
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Interview | Dr. Jassim Haji new log
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Atanu Sanyal Managing Director, G4S
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Don’t miss the nights of Ramadan
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CYBER SECURITY OPERATING BEYOND THE
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Interview | CTM360 organisation. No
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Interview | Alliance Business Cente
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Interview | DHL Express How has DHL
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Memories are the one gift you give
Page 35 and 36: The pace of innovation in the finan
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Page 39 and 40: Interview | Tasneem Yousif replacin
Page 43 and 44: OBG | Business Report These project
Page 45 and 46: CBRE | Real Estate Analysis Strong
Page 47 and 48: The words in a commercial lease con
Page 49 and 50: ASAR | Corporate Law Analysis benef
Page 55 and 56: Expert Viewpoint | Investor Behavio
Page 57 and 58: RAMADAN NIGHTS AT THE GULF HOTEL BA
Page 59 and 60: A MEMORABLE RAMADAN AT SOFITEL BAHR
Page 61 and 62: THE NEW AUDI A5 COUPÉ Sportiness a
Page 63 and 64: Government Hotel Revenues increase
Page 67 and 68: Banking & Finance TAKAUD partners w
Page 71 and 72: Telecom Brand Zain valued at US$2.3
Page 75 and 76: Real Estate The new Address Residen
Page 79 and 80: Technology IFLIX launches in the Mi
Page 83 and 84: Automotive New INFINITI Q60 Sports
Page 85: www.stratfordholding.com M: +973 39
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Page 95 and 96: A GRACIOUS RAMADAN RETREAT Ramadan
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BizBahrain May-June 2017

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