Having commenced 2013 with a number of new and noteworthy industrial projects in both private and public sectors, Bahrain should be able to continue to diversify its portfolio and expand its industrial base.
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In terms of recent public projects, there are three sizable investments in the pipeline expected to come to market between the fourth quarter of 2013 and the first quarter of 2014: $4.8bn in funds for expansion and modernisation efforts at the Bahrain Petroleum Company (BAPCO); $2.5bn for new developments at Aluminium Bahrain ( Alba ); and $1.2bn for the Gulf Petrochemical Industries Company ( GPIC ).
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The BAPCO Modernisation Programme (BMP), which originally planned to inject $8bn-11bn in new projects through joint ventures, will now proceed with a $4.8bn target to be financed through bonds and sukuk offerings. The company is currently appointing an advisory bank to oversee the financing.
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