Hi, well this is FDI for you, and this time it's in the form of a nuts factory, enjoy:
BD1m factory to be set up
By SOMAN BABY
AN American businesswoman and an Indian business tycoon are to join hands with a Bahraini group to set up a nut-processing factory in Bahrain.
Dr Peni Kangas, who hails from a Bulgarian royal family and is currently involved in oil drilling, software and trading businesses in Miami, US, and Beta Group chairman Rajmohan Pillai, also known as the "Cashew King" of Kerala, have finalised a joint venture agreement with a leading Bahraini business group.
Dr Kangas, wife of famous American TV presenter Paul Kangas, represents the Beta brands of processed nuts and dry fruits in the US.
"We are proud to enter into a business venture in Bahrain, which is the financial centre of the Middle East," she told the GDN.
"I have made several visits to Bahrain with my parents since my childhood.
"I have seen dramatic changes in Bahrain over the years. Though I have been visiting all Gulf countries, Bahrain has a special place in my heart.
"Bahrain, which is a peaceful place, is a lighthouse of culture and knowledge.
"Bahraini people, known for their friendliness, command respect abroad."
Dr Kangas, who is a specialist in alternative medicine including Ayurveda and acupuncture, is also an expert in Indian scriptures and mythology.
An active social worker, she was presented with the title of "Ambassador Against Aids" by the Ivory Coast government.
"While establishing business ventures around the world, I consider it my duty to contribute to the welfare of my fellow human beings," said Dr Kangas.
"I hope the new business venture to be set up in Bahrain will enable me to contribute towards the country's social life as well."
Mr Pillai said his business group, which has its headquarters in Kollam, Kerala, would provide the technical know-how for the joint venture project in Bahrain.
"We will announce the names of our Bahraini partners shortly," he said.
"The project, estimated to cost BD1 million, will be based in one of the industrial areas and is expected to start production in a year.
"The company will manufacture, market and distribute a range of premium quality nuts under the Nut King brand name."
Mr Pillai said the company would also develop a new range of products using dates and almonds.
Mr Pillai took over the reins of the Beta Group from his brother Rajan Pillai, who died in 1995 when he was also the chairman of the Britannia Group of Companies.
The multinational group's interests cover a wide range of businesses from edible nuts and food products to airlines, shipping and consultancy.
The group is now one of the largest food processing companies in South East Asia with an annual turnover of more than $645 million (BD243.81m).
BD1m factory to be set up
By SOMAN BABY
AN American businesswoman and an Indian business tycoon are to join hands with a Bahraini group to set up a nut-processing factory in Bahrain.
Dr Peni Kangas, who hails from a Bulgarian royal family and is currently involved in oil drilling, software and trading businesses in Miami, US, and Beta Group chairman Rajmohan Pillai, also known as the "Cashew King" of Kerala, have finalised a joint venture agreement with a leading Bahraini business group.
Dr Kangas, wife of famous American TV presenter Paul Kangas, represents the Beta brands of processed nuts and dry fruits in the US.
"We are proud to enter into a business venture in Bahrain, which is the financial centre of the Middle East," she told the GDN.
"I have made several visits to Bahrain with my parents since my childhood.
"I have seen dramatic changes in Bahrain over the years. Though I have been visiting all Gulf countries, Bahrain has a special place in my heart.
"Bahrain, which is a peaceful place, is a lighthouse of culture and knowledge.
"Bahraini people, known for their friendliness, command respect abroad."
Dr Kangas, who is a specialist in alternative medicine including Ayurveda and acupuncture, is also an expert in Indian scriptures and mythology.
An active social worker, she was presented with the title of "Ambassador Against Aids" by the Ivory Coast government.
"While establishing business ventures around the world, I consider it my duty to contribute to the welfare of my fellow human beings," said Dr Kangas.
"I hope the new business venture to be set up in Bahrain will enable me to contribute towards the country's social life as well."
Mr Pillai said his business group, which has its headquarters in Kollam, Kerala, would provide the technical know-how for the joint venture project in Bahrain.
"We will announce the names of our Bahraini partners shortly," he said.
"The project, estimated to cost BD1 million, will be based in one of the industrial areas and is expected to start production in a year.
"The company will manufacture, market and distribute a range of premium quality nuts under the Nut King brand name."
Mr Pillai said the company would also develop a new range of products using dates and almonds.
Mr Pillai took over the reins of the Beta Group from his brother Rajan Pillai, who died in 1995 when he was also the chairman of the Britannia Group of Companies.
The multinational group's interests cover a wide range of businesses from edible nuts and food products to airlines, shipping and consultancy.
The group is now one of the largest food processing companies in South East Asia with an annual turnover of more than $645 million (BD243.81m).