The Chemco Group, a leading Indian manufacturer of PET jars, has announced plans to set up a plastics packaging unit in Bahrain. The new factory will be established at the Bahrain International Investment Park in Salman Industrial City and will primarily engage in the manufacture of polyethylene terephthalate (PET) preforms. These PET preforms can be converted into PET jars and bottles of various shapes and sizes.
With this decision, Chemco’s investment in Bahrain up to 2015 will likely touch $10 million, eventually expanding in a systematic manner to double by 2017. When the new facility becomes operational, it will likely create 80 locals jobs, and around 20 more jobs would be added as the factory expands by 2017. In this context, a year-on-year growth of 15-20 per cent is expected.
The decision was finalized in a meeting between Chemco Group officials and the Kamal Ahmed, EDB’s acting CEO. The company said that it will look to supply products manufactured at this facility to both regional as well as local companies. The Chemco Group will be able to gain a license for operations in Bahrain with the support of the EDB, is primarily engaged in attracting FDI into Bahrain.
Ram Saraogi, the MD and chairman of the Chemco Group, the company zeroed in on Bahrain as it offers a unique business environment and an economy that is diverse while also offering a locational advantage from the Gulf market standpoint. The Chemco Group boasts a 26% market share in the PET preforms market in Asia; it was established in 1980. Its PET bottles are used in a variety of industries such as food and beverages and other products for brands such as Pepsi, Coca Cola and Reckitt Benckiser.
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