Aussies eye $250m resort for Bahrain
01 March 2009
PLANS to create a $250-million tourism resort in Bahrain, in a joint venture with Australian developers, are in the pipeline.
Promoseven Holdings chairman Akram Miknas, who is leading the project, confirmed the outline of the plan but said details of the project were not ready to be released.
“We are working with the public sector in Bahrain to develop a kind of corniche resort and we have been speaking to Australian developers and architects to co-operate and partner with us,” said Miknas, who is also honorary ambassador to Brisbane.
Miknas’ comments came during last month’s visit of a Brisbane business delegation led by Lord Mayor of Brisbane Campbell Newman.
The delegation met officials from the Bahrain Chamber of Commerce and Industry, the Economic Development Board (EDB), the Education Ministry and other government officials. It is also held private meetings with local business leaders.
In addition to the tourism project, the delegation spoke to a Bahrain business that appeared to be investing in an Australian company that was running into difficulty.
However, Miknas did not reveal the names of the companies.
The entire sale was A$400 million ($255.4 million) and the local company was expected to buy some of its assets.
Newman said there were many opportunities in Brisbane for construction companies in the Gulf. He said Brisbane was seeking corporate partners for its Northern Link project.
The Northern Link is a 4-km road tunnel that connects the city with a major freeway, he said.
The cost ranges between a minimum of A$1.7 billion and A$2.7 billion, he added.
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