MANAMA: Intratool Group, an engineering, technology and manufacturing services provider from Russia, has started its regional operations by opening an office in Bahrain.
The Intra Engineering Hub, opened through a partnership with Bahraini firm Dynamic Structures, will serve as the Russian firm’s regional hub for the entire GCC and even the wider Mena region.
It will support the company’s localisation programme and is expected to create technical and senior level jobs in the local labour market within the first three years.
The Bahrain office will then be used as a base from which to develop the regional strategy.
The launch ceremony was attended by Intratool senior management including chairman Sergey Terentiev, president Alexander Shilov and GCC branch director Evgeniy Shakirov.
The office was opened in the presence of Capital Governor Shaikh Hisham bin Abdulrahman Al Khalifa, Russian Ambassador Vagif Garaev, Dynamic Structures general manager Jasim Alghatam and Economic Development Board (EDB) executive director of manufacturing, transport and logistics Hussain Rajab.
The EDB supported Intratool during the set up process in Bahrain and EDB chief executive Khalid Al Rumaihi said: “Bahrain offers businesses a highly connected, low-cost and well-regulated location at the heart of the GCC from which to build their regional operations.
“Investments from companies such as Intratool are critically important to Bahrain – they act as a catalyst for economic growth and create high quality specialised jobs in the local market. They also demonstrate the success of the EDB’s efforts to attract investment into Bahrain and are testament to the strength of Bahrain’s well-diversified economy.”
Mr Terentiev said the support from the Bahrain government and partners like Dynamic Structures, EDB, Tamkeen and others was instrumental in the decision.
“Our countries are getting close to each other that provide exclusive situation for business opportunities. We look forward to Bahrain as a unique business hub for services operations in the GCC region. We would like to establish a channel for the Russian technologies to the region to bring innovation to increase the efficiency of the business in the region,” he added.
During the launch event, Mr Shakirov read an official letter from the Government of Saint Petersburg which congratulated both parties on the partnership.
“The Intratool Group is the first Russian company providing special services for oil and gas industry and the first St Petersburg company opening its branch in the Gulf. The Government of St Petersburg is ready to support the Intratool Group in promoting projects and establishing the links with local authorities and business circles in Bahrain and the Gulf,” said the letter.