Bahrain.com Home Media Centre

Electrosteel to refresh GCC water supply

 

Electrosteel-Opening.jpg
 
​The region’s water supply industry has received a welcome boost with the opening of a new US $6.6 million warehouse by Electrosteel Castings.
 
Electrosteel Castings is part of the Electrosteel Group, which specialises in water infrastructure and has implemented more than 10,000 projects. The group is India’s biggest and the world’s third-largest manufacturer of ductile iron (DI) pipes and ancillary products. It supplies over 50 countries and is listed in the Mumbai, National and Singapore Stock Exchanges.
 
Based in Askar, the new facility will be Electrosteel’s sales and distribution hub for the whole northern Middle East – a ‘one-stop shop’ for water projects. The company selected Bahrain particularly for its strategic location, infrastructure and transport network. Electrosteel’s decision was influenced by Bahrain’s business-friendly regulatory structure, while it also received full support from the Bahrain Economic Development Board (EDB) throughout the registration and set-up processes.
 
Strong bilateral ties
 
Electrosteel is not the only Indian firm to have expanded into Bahrain recently. In November 2015, Synergies Castings, one of India’s leading aluminium casters and manufacturers of alloy wheels, signed a joint venture with Mumtalakat Holding Company, the investment arm of Bahrain’s sovereign wealth fund, to establish a manufacturing facility here.
 
Such tie-ups aren’t surprising. India and Bahrain have shared close economic and cultural links for thousands of years, tracing back 5,000 years to Bahrain’s Dilmun civilization. Mutual trade reached US $1.2 billion in 2014 and more than 350,000 Indian nationals – around a third of the expatriate population – live in Bahrain and contribute actively to our social and political life.
 
Commenting, Mr. Khalid Al Rumaihi, Chief Executive of the EDB, said: “Electrosteel’s announcement reflects the growing investment by Indian firms in Bahrain, and the efforts being made by these companies to take advantage of the growing demand within the larger MENA region.