MANAMA, Bahrain, July 25, 2012 /PRNewswire-USNewswire/ — Bahrain‘s first operational sugar refinery will become operational in early 2013 according to International Investment Bank (IIB). A leading Islamic lender in Bahrain, IIB is also a 22% shareholder in the $99 million project.

IIB’s CEO Aabed Al-Zeera told Al Wasat newspaper in a statement that the plant will generate 585,000 metric tons of refined sugar per year.

Negotiations with potential buyers from neighboring countries are underway while a Saudi wholesaler has already agreed to own part of the plant.

This announcement follows recent news of increased foreign and domestic investment in Bahrain‘s economy across a variety of sectors.

SOURCE Kingdom of Bahrain