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FINANCIAL NEWS
Bahrain needs USD400m to finalize prime held-up ventures
06 Apr 2015
(MENAFN) The Bahrain Chamber of Commerce and Industry (BCCI) said that Bahraini economy is in need for about USD400 million to finish operations on 6 prime delayed domestic projects, Arabian Business reported.
The 6 projects that are put on hold are at the Marina West, Amwaj Gateway, Villamar, Marina Reef, Riffa Views and the yet nameless Al Areen Holding Company residential and commercial development, according to study of the BCCI.
GCC Development Fund had already put an estimation of USD10 billion of how much the projects will cost. The needed sum is about 4 percent of the total figure. UAE, Kuwait, Saudi Arabia and Qatar are funding the Bahraini ventures.
Bahrain founded the Ministerial Committee for Reconstruction and Infrastructure in hopes of recalibrating and mending the issue. Almost all operations on all of the projects came to a stop, with little activity at Villamar, Amwaj Gateway and Marina West.
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