MANAMA: Nogaholding, the investment and business development arm of National Oil and Gas Authority (Noga), and German firm Schmidt Heilbronn yesterday inaugurated their new joint venture, Schmidt Logistics Bahrain.
The $20 million facility will create around 100 direct and indirect jobs in the logistics sector.
It is located in the Bahrain Logistics Zone and will support the zone’s expanding operations, particularly in the chemical and petrochemical logistics market.
Schmidt Logistics Bahrain was opened by Oil Minister and nogaholding chairman Shaikh Mohammed bin Khalifa Al Khalifa and Schmidt Group chief executive and managing partner Thomas Schmidt.
The event was attended by Transportation and Telecommunications Minister Kamal Ahmed, Economic Development Board (EDB) chief cxecutive Khalid Al Rumaihi, Supreme Council for Environment (SCE) chief executive Dr Mohammed Bin Daina, nogaholding chief executive and Schmidt Logistics Bahrain chairman Dr Dafer Al Jalahma and Schmidt Logistics Bahrain general manager Bassam Al Khaja.
Shaikh Mohammed said there is great demand in Bahrain and the region for the highly-specialised services that will be offered by the facility.
Joint efforts from nogaholding, Transportation and Telecommunications Ministry, EDB, SCE and Customs Affairs led to the establishment of Schmidt Logistics Bahrain.
According to Dr Al Jalahma, the new facility is expected to have a significant impact on the regional chemical and petrochemical industries and facilitate quicker and easier transportation of goods around the GCC.
Mr Schmidt said, “The new development represents the confidence we have in Bahrain as one of our key strategic operational bases in the Gulf region. We chose to locate a significant proportion of our services in Bahrain because of the strong transportation links with neighbouring countries, excellent logistics infrastructure and supportive regulations.”
“We are now in a position to be able to capitalise further on these competitive advantages and expand our regional offering,” he added.
Mr Al Rumaihi told the GDN that the manufacturing and logistics sector in Bahrain attracted more than $200m of investment during the first half this year, which will create more than 1,000 jobs over the next three years.
“Joint investments such as Schmidt Logistics Bahrain enable the growth of this world-class industry and attract companies with specialised expertise and operational skills to Bahrain to support the supply chain, creating high-quality employment opportunities for the local market,” he added.