Mumtalakat signs JV with Synergies Castings

Mumtalakat has signed a joint venture agreement with India's Synergies Castings Ltd and will construct an aluminium casting and specialty alloy wheel manufacturing facility in Bahrain, the kingdom's sovereign fund said on Wednesday.

Mumtalakat will hold 49% in the joint venture, with the plant having an annual production capacity of around 25,000 metric tonnes.

Synergies Castings supplies alloy wheels to car companies including General Motors, Ford and Toyota, the statement added.