Manama: Mondelez International, formerly known as Kraft Foods, has contributed quarter of a billion dollar to the Kingdom of Bahrain’s economy, according the Minister of Industry and Commerce Dr Hassan Abdulla Fakhro.
Dr Fakhro, who was the chief guest the signing ceremony of the $90million largest biscuit plant by Mondelez International in Bahrain said since 2008 this mega project injected US$250 million into the local economy and enjoy the capacity of 110,000 tons of Kraft cheese and Tang beverages every year.
The US Ambassador, Thomas C. Krajeski, and the Ministry officials were present during the ceremony.
“On a morning like this I am reminded of my first meeting with your company, in my office in July of 2006, when you committed to building a new Kraft plant here. On that morning you announced a new project here in Bahrain to produce cheese and powdered soft drinks with an associated investment of US$40 million,” the Minister said.
“Today you have already completed that project and you have invested over US75 million and created 250 new jobs.”
“Over the past 7 years I have made several visits to your plant and was always pleased to officiate at the celebration of your major milestones there, today is a very special day for Bahrain because you are here to announce a mega project to be built by Mondelez International in our country,” the Minister added.
“You are confirming that you have again selected the Kingdom of Bahrain as the location for your latest manufacturing expansion in the Middle East and Africa. In phase 1 of this new project, you will produce such well-known biscuit brands as Oreo, Ritz, BelVita, TUC, Prince and Barni cake.
“This initial investment will be US$90 million and will lead to the creation of 300 new manufacturing jobs by the end of Phase 1.
“This new project will help to sustain hundreds more jobs in the local economy through a multiplier effect. Later investment will increase this figure many times as you invest further and locate other facilities of your Regional operations.
“The facility will generate several hundred more direct jobs and sustain thousands of indirect jobs as additional investments are made and other categories are introduced in further phases from 2018 onwards.
“I am also very pleased to note that you will be locating your suppliers of raw materials and ingredients together with all of your service providers, adjacent to your new site.
“This development will be a first for Bahrain and for the Middle East countries in that you will create a totally integrated food manufacturing campus on your site. To have of a company of the stature of Mondelez International, the world’s largest snacks group, select Bahrain for this mega investment is a great pleasure for the Ministry of Industry and Commerce and for the Government of Bahrain.
“Your company is a powerhouse of global brands such as Kraft, Tang, Nabisco, Cadbury, Oreo, Jacobs Coffee, LU, Milka Chocolate and Trident Gum. These brands are well known in every country in the world.
When you established your manufacturing plant here in 2007, you were the 1st company to build a facility at the Bahrain International Investment Park.
Since then we have completed agreements with 105 companies to locate their operations here of which 64 are now operational; 12 are under construction; 13 have finalized their leases and 16 are at pre-lease stage.
“These companies have committed to investing almost $ 2 billion in the development of their new operations here. Almost 86% of this investment, which includes such global companies as BASF, SIEMENS, RECKITT BENCKISER and JBF, has come from companies with headquarters in 20 countries including USA, Germany, United Kingdom, India, Singapore, Japan, China, Kingdom of Saudi Arabia and Spain,” the Minister said.
“We appreciate the support of your local Mondelez management team, who work closely with us in promoting the strengths of Bahrain to potential new foreign investors. We are confident of attracting a similar flow of new international investment into Salman Industrial City following the announcement of this new mega project,” the Minister added.