May 14, 2017
Manama, 14 May 2017: ARMADA, a leading GCC textile and fashion distribution company, has today broken ground on the construction of its US$50 million regional logistics centre in the Bahrain Logistics Zone. The logistics centre is expected to create more than 400 jobs when operational.
ARMADA, established in Kuwait in 1973, specialises in the distribution of leading international textile and fashion brands. ARMADA has expanded from a single shop into a popular chain with 250 branches around the GCC and representing 15 international brands such as RIVA, CHOICE and ESCADA.
The ARMADA logistics centre is expected to generate up to US$70 million worth of revenue annually. The logistics centre will rely on an intelligent storage system to increase capacity and facilitate the fast and efficient processing of goods between ARMADA’s logistics centre and the exports processing areas. Construction of this centre is expected to be completed within 18 months.
The ground breaking was attended by Mr. Ahmed Al Tahan, Chairman of ARMADA, H.E. Engineer Kamal bin Ahmed Mohammed, Minister of Transportation and Telecommunications and HE Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board (EDB).
Mr. Ahmed Al Tahan, Chairman of ARMADA, said: “Bahrain’s business friendly environment and strategic location offer us many opportunities to expand in the region. In addition, it has the shortest travel time in the region between its exports hubs and logistics zones. This is the main reason for choosing Bahrain as our regional hub, as it allows us to easily reach out into other markets.”
H.E. Engineer Kamal bin Ahmed Mohammed, Minister of Transportation and Telecommunications said: “Bahrain has built its transport and logistics sector with a strong, modern infrastructure network that supports business growth and facilitates access to the neighbouring markets. With high quality logistics services, the strategic Bahrain Logistics Zone offers a natural hub for both regional and international trade.”
As part of its efforts to attract investment and create jobs in the local market, the EDB has supported ARMADA during the set-up process in Bahrain. HE Khalid Al Rumaihi, Chief Executive of the EDB said: “We welcome ARMADA’s decision to choose Bahrain as a regional hub for its logistics operations, as many high-profile international logistics companies have before them. Bahrain’s strategic location at the centre of GCC, its cost-effective operations environment, and the availability of a highly-skilled and well-educated workforce are important factors which will ultimately attract more investment to the Kingdom.”
The logistics sector is a key enabler to the growth and diversification of Bahrain’s economy. It contributes 7% to the Kingdom’s GDP and provides more than 19,000 jobs for the local market.
Notes to editors:
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for attracting investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.
Key areas of focus include tourism, manufacturing, ICT, and logistics and transport services as well as other sub-sectors. The Financial Services sector in Bahrain is particularly strong and the EDB supports in the continuing growth of the banking industry and key sub-sectors, including Islamic Finance, Asset Management, Insurance and Re-Insurance.For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com