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Article: Inovest and Tharawat plan $32m company.
- Article from:
- Gulf Daily News (Manama, Bahrain)
- Article date:
- September 7, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MANAMA: Bahrain-based Inovest and Tharawat Investment House are planning to set up a $32 million water filter production company within a year.
The Bahrain Water Technology Company (BWTC) will be set up through a $24m equity investment plus $8m through financing.
The company will produce water filters that can be used by households, commercially and for desalination projects.
The development which is a first of its kind initiative in Bahrain, comes in response to pressing water scarcity issues in the GCC and Mena region.
The collaboration highlights Inovest's brand promise to deliver financially successful, dynamic and innovative ...