KKC Industries (iCOOL), a Chinese manufacturer of heating, ventilation and air conditioning (HVAC) products, has launched a $10.7 million manufacturing facility in Bahrain.
Through its operations in Bahrain, iCOOL will produce and export air conditioning insulation pipes to markets in the Middle East, United States and Europe, utilizing Bahrain’s strategic location and duty-free trade through its free trade agreements (FTAs) with 22 countries around the world, including the first US FTA with a GCC member.
As an HVAC manufacturer, iCOOL serves customers from 130 countries with annual sales of $420 million. About 80% of the machines used by iCOOL are designed and developed by the company, allowing iCool to operate at 10% more capacity than its peers, a statement said.
Gary Xu, Managing Director of iCOOL-Bahrain, commented, “With two decades of experience, iCOOL continues to introduce innovative new products that improve efficiency. We build customer-centric, value-for-money products, and Bahrain is the perfect location to capitalize on for our business with its refined manufacturing ecosystem, best value for money operating costs and its skilled workforce. We look forward to using Bahrain’s value proposition to generate high revenue as we aim to produce 480 containers of air conditioning insulation pipes in the first year of operation, which equates to over 31 million dollars of revenue.
Ahmed Sultan, Executive Director of Investment Development – Manufacturing, Transport and Logistics at Bahrain EDB, said, “Manufacturing is one of the key sectors in the Kingdom’s economic recovery plan and the investment opportunities it creates. This announcement reflects Bahrain’s unique offer for investors. We are delighted that iCOOL has chosen Bahrain as a hub to meet the needs of its markets in the Middle East, USA and Europe while creating over 150 jobs in Bahrain over the next 3 years.
In line with the Kingdom’s economic recovery plan, Bahrain aims to increase the manufacturing sector’s contribution to all domestic exports to 80.1% of Bahrain’s total exports by 2026. Manufacturing accounts for about 14% of the GDP and is the second largest contributor to non-oil sector exports. – TradeArabia Press Office
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