Thu, 26 Jul 2012 01:46:48 CDT
Bahrain: Bahraini Islamic lender, International Investment Bank (IIB) has announced the kingdom's first sugar refinery is slated to become operational in early 2013. The bank said in 2008 it had acquired a 14.29% stake in the Arabian sugar refinery to be set up in the Hidd industrial area at an estimated cost of $157m. The plant will produce 585,000 metric tonnes of refined sugar per year. Negotiations with potential buyers from neighbouring countries are underway, while a Saudi wholesaler has already agreed to own part of the plant, the lender said.
Read full article at: ameinfo.com