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Bahrain's Mumtalakat to invest $150m in local projects
- Bahrain: Thursday, March 07 - 2013 at 06:56
Bahrain's sovereign wealth fund Mumtalakat has unveiled plans for $150m in investments in local projects this year, joining efforts to bolster the local economy, Reuters has reported. The $9bn fund has allocated $45m for real estate projects, $50m around downstream aluminium industries and $42m for tourism and hospitality schemes, said Mumtalakat chief executive, Mahmood Al-Kooheji. "As well as contributing to the development and growth of our portfolio companies, we believe there are other opportunities (in Bahrain) which we can benefit from," said Kooheji.
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