Tamkeen recently signed an agreement with Imerys Al-Zayani Fused Minerals, a joint venture between Imerys, a French multinational company specialising in the production and processing of industrial minerals, and Al-Zayani Investments, a leading Bahrain-based business group, to support the newly-established company.
Through Tamkeen’s support, Imerys Al Zayani Fused Minerals, which was incorporated in Bahrain in April 2012, built a state-of-art factory producing white fused alumina, a specialty material used in various industrial applications such abrasives, refractory, laminates, and others.
As per the agreement, Tamkeen will provide a grant disbursed over a period of 3 years. The grant is linked to specific milestones which need to be met, among them recruiting and training 64 Bahraini employees.
Commenting on the agreement, His Excellency Shaikh Mohammed bin Essa Al Khalifa, Chairman and Acting Chief Executive of Tamkeen, said, "Tamkeen’s objective through the scheme is to attract projects that address gaps within the various economic sectors and create value-added opportunities to Bahrain. Each project support has pre-defined KPI’s that are in line with our strategic objectives in supporting the private sector and national economic development."
Olivier Berger, Vice President and General Manager of Imerys Fused Alumina Division, commented, "Imerys and Al Zayani have settled base for a long-term partnership and I am delighted with the support from Tamkeen. Through the new industrial unit built in Bahrain, Imerys Al Zayani Fused Minerals is proud to contribute significantly to the local economy."
Tamkeen is working in synergy with the Economic Development Board in attracting and supporting strategic investments in the Kingdom, focusing particularly on major Foreign Direct Investments that establish innovative technology and services projects in Bahrain.
Investment proposals are thoroughly evaluated by Tamkeen to gauge their potential in terms of employment, value creation, economic contribution, knowledge and technology transfer, and generation of business opportunities for the Kingdom, in line with Tamkeen’s strategy which focuses on enhancing quality, being customer-oriented, and achieving better results.
Imerys has operations in nearly 50 countries with around 250 industrial sites, and is listed on the French Stock Exchange. The company designs, manufactures and sells high-value minerals-based products for companies in a wide range of sectors, including consumer goods, industrial equipment, construction, and more.