Bahrain launches new water filtering JV
Technology for US$32m plant to come from unnamed US outfit
Two Bahraini investment companies have confirmed the set-up of a new water filter manufacturing firm in the country.
Bahrain Water Technology Company (BWTC) is a joint venture between Inovest BSC and Tharawat Investment House, and will consist of four production lines designed to produce water filter cartridges for use in the household, industrial and commercial sectors, as well as in desalination plants in the MENA region.
The move was originally announced in April this year, and Inovest CEO Khalid Abdulla confirmed to Reuters that it would cost US $32 million. Around $24 million would be raised through equity, Abdulla added.
'There are several key benefits built into this project at the investor level, consumer level, and in fact at a regional government level too,” said Arif Mohammed Al Alawi, CEO of Tharawat.
“One of the most important, for us and Inovest, is the fact that the company's manufacturing process will use environmentally clean, efficient technology without any emissions. From raw materials through to end product, the output of Bahrain Water Technology Company is recyclable and environmentally friendly.”
Technology for the joint venture will be supplied by an as yet unknown US partner, which Inovest says is an ‘established pioneer in the field’.
A country profile on the utilties sector in Bahrain has been published in the September issue of Utilities Middle East.