The lease signing was fast-tracked due to Interlink’s project being awarded the Golden License
Edamah, the real estate arm of the Kingdom’s sovereign wealth fund, Bahrain Mumtalakat Holding Company “Mumtalakat”, has recently signed a 25-year lease agreement with Bahrain Titanium, a subsidiary of Interlink Metals & Chemicals AG (Interlink), for a 50,000 sqm industrial plot at Askar, for a Titanium multiphase facility valued at upwards of USD 200 million. Securing the establishment of this landmark first-of-its-kind project and milestone agreement was supported by Bahrain Economic Development Board. On the heels of being awarded a Golden License, which fast-tracked the lease signing and land allocation, the establishment of the Bahrain Titanium facility cements the island nation’s position as an established exporting hub for the world, contributing to its economic diversification and enhancing its global competitiveness.
Interlink chose Bahrain as the destination for its groundbreaking project due to Bahrain’s strategic location, along with its well-established exporting capabilities. During the first phase of the project, Bahrain Titanium will operate an electron-beam furnace (EB), for the production of commercially pure titanium slabs and ingots, as well as a vacuum-arc (VAR) furnace, for the production of titanium alloys. The first phase of the project will have a 4,000 tonnes capacity per annum with further projected increases in capacity in the future. The first stage will be followed by a comprehensive downstream expansion into forged bars and round and tubed titanium products.
H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of Bahrain Economic Development Board (Bahrain EDB) said, “The agility of Team Bahrain ensured this strategic project hit the ground running. Benefiting from facilitated duty-free access to 24 markets globally, the Switzerland-based manufacturer is a welcome addition to Bahrain’s well-diversified economy, adding value with their niche experience and expertise. As an export-oriented project, this deepens Bahrain’s ties with key markets, serving as a gateway for leading players in the logistics and manufacturing industry to tap into the Middle East and North Africa market and beyond.”
The facility will be purpose-built to serve fast-growing industries such as medical, aerospace, automotive, and energy, meeting the increasing global demand for titanium products, a niche commodity gaining traction worldwide surging Bahrain’s exports to international markets.
H.E. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, said, “Marking the first specialised Titanium facility to be established in the region, Interlink has earned a solid reputation as one of the largest traders and suppliers of titanium in the world. Bringing these international institutions to Bahrain plays a pivotal role in enhancing the diversity, quality, and overall investment value of the national industrial sector, which contributes to increasing Bahrain’s economic competitiveness and elevating its standing as a leading export hub on the global map.”
H.E. Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat and Chairman of Bahrain Real Estate Investment Company (Edamah), added, “We are pleased to sign this agreement with Bahrain Titanium, which marks a crucial step in facilitating their local operations enabling them to take advantage of Bahrain’s strategic location and world-class logistics infrastructure. As the first facility of its kind, this landmark signing underscores our commitment to expanding and diversifying Bahrain’s robust property portfolio with premium projects that foster innovation across priority sectors of the economy, in line with the national vision.” Igor Raykhelson, Chairman of Interlink Metals & Chemicals, said, “As part of Interlink’s roadmap for global expansion, Bahrain was a clear destination of choice given its Free Trade Agreement ratified with the US, strategic location, competitive operating costs, and availability of experienced and highly skilled local talent. The blueprint for the new Bahrain-based plant outlines the use of state-of-the-art technology and advanced manufacturing processes to meet the highest industry standards in energy efficiency and waste management, with a minimal carbon footprint.”
