01 November 2005

Khaleej Finance and Investment (KFI) and Bahrain Motor Company (BMC) have recently signed a formal agreement to set up a BD16.9 million ($45 million) cement manufacturing company called Falcon Cement Company, which will produce clinker directly from basic raw materials such as limestone, iron ore, bauxite and other additives.

Studies began a year ago and KFI is the arranger and promoter of the offering. Construction of phase one of the project is expected to start in the first quarter of next year.

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