The agreement was signed as a direct result of the two companies meeting during an official state visit to South Korea in May 2012. The Bahrain delegation was led by His Royal Highness Prince Salman Bin Hamad Al-Khalifa, the Crown Prince of Bahrain, First Deputy Prime Minister and Chairman of the Bahrain Economic Development Board (EDB), with the intention to further strengthen bilateral political, economic and trade relations between Bahrain and South Korea. .
Under the terms of the service agreement, YBA Kanoo will act as H-Plus Eco Ltd.’s representative in Bahrain. The company will be able to offer soil and groundwater remediation consultancy, smart farm services, environmental technologies, and environmental consultancy to companies and institutions in the Kingdom.
YBA Kanoo Deputy Chairman, Bahrain, Mr. Fawzi Kanoo said: “We are pleased to announce that through our partner, H-Plus Eco Limited, we can now provide environmental consulting, technology, engineering, and construction services in Bahrain. This agreement follows a positive meeting during the official state visit to South Korea last year. We are grateful to His Royal Highness the Crown Prince and the EDB for leading this successful delegation, and look forward to a long and prosperous partnership with South Korea’s H-Plus Eco.”
Mr Jahong Hur, CEO of H-Plus Eco Limited commented: “H-Plus Eco has been keen to extend its activities in the GCC for some time. The initial meeting in Seoul was just the start of our discussions with YBA Kanoo. We are delighted to have finally signed this initial service agreement, and hope this is just the beginning of our relationship with YBA Kanoo, the Kingdom of Bahrain, and the wider GCC.”
Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of Bahrain EDB said: “We are delighted that YBA Kanoo and H-Plus Eco Limited have signed a service agreement. It highlights, once again, the importance of international roadshows and the inclusion of private sector representatives among the visiting delegations for strengthening bilateral relations and highlighting mutual business opportunities. Bahrain’s low cost of doing business, highly skilled local workforce, and access to the GCC market are key attractions for international companies. We hope this partnership leads to stronger business ties between the Kingdom of Bahrain and the Republic of South Korea over the coming years”.
The delegation visit to South Korea in May 2012 is one of many international roadshows organised by the EDB, designed to strengthen bilateral relationships between the business communities and highlight investment opportunities in the Kingdom. A number of South Korean companies have operations in Bahrain including: Hyundai Engineering and Construction, Hyundai Heavy Industries, Samsung Engineering, Woori Bank, Dm Puretech Co, Woongjin Development, Myong Sung Engineering and Korea Exchange Bank.
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 inward investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.Key areas of focus include 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 the newly re-launched www.bahrain.com
About Yusuf Bin Ahmed Kanoo Group of Companies
YBA Kanoo is one of the largest independent, family-owned companies in the Gulf region. Established in Bahrain in 1890 by Haji Yusuf Bin Ahmed Kanoo , it has grown from its early trading and shipping business to become one of the most diversified and highly regarded business houses in the Gulf region and beyond.
About H-Plus Eco Ltd
H-Plus Eco, Ltd. provides environmental consulting, engineering, and construction services for contaminated soil and wastewater projects in Korea. The company was founded in 2000 and is based in South Korea. H-Plus Eco, Ltd. operates as a subsidiary of H-Plus Group.
Further information please contact:
Noora Abul, Bahrain Economic Development Board
Tel: +973 17 589 903