Nogaholding the investment and business development arm of National Oil and Gas Authority (Noga) in Bahrain, and Schmidt Heilbronn, a global leader in bulk logistics, inaugurated their new joint venture facility in Bahrain.

The $20 million Schmidt Logistics Bahrain will create around 100 jobs in the logistics sector (directly and indirectly). Located in the Bahrain Logistics Zone, it will support the zone’s expanding operations, particularly in the chemical and petrochemical logistics market.

Shaikh Mohamed bin Khalifa Al Khalifa, Bahrain’s Minister of Oil and chairman of nogaholding, said: “Our new facility will have a significant positive impact on the regional chemical and petrochemical industries and facilitate quicker and easier transportation of goods around the GCC.”

Thomas Schmidt, CEO and managing partner of Schmidt Group, said: “This new development is a reflection of the huge growth we see in the regional logistics industry. It also represents the confidence we have in Bahrain as one of our key strategic operational bases in the Gulf region.”

Khalid Al Rumaihi, chief executive of the Bahrain Economic Development Board (EDB) commented at the event: “The manufacturing and logistics sector is one of the strongest in the Kingdom and Bahrain attracting more than $200 million of investment into this sector in the first half of the year – investments that will create more than 1,000 jobs over the next three years.”