 "Fiem Industries to set up LED lights manufacturing plant in Bahrain")
Fiem Industries Ltd, a supplier of automotive lighting system, will set up a LED lights manufacturing plant in Bahrain in collaboration with VKL Group. Two companies have signed a memorandum of understanding' (MoU) to this effect.
“As per MoU, Fiem and VKL are interested for feasibility study and thereafter establishing a joint-venture company in Bahrain to facilitate a joint working partnership between both companies to establish a LED lighting factory to manufacture and market LED lights in Bahrain and whole of GCC (Gulf Cooperation Council) member countries as well as to facilitate export of its existing range of LED luminaires to Bahrain and whole of GCC (Gulf Cooperation Council) member countries,” said Fiem in a BSE filing.
VKL Group is a Bahrain based large diversified group and engaged in fields of construction, real estate investment and development, hospitality sector, healthcare sector, education sector, marine sector, trading etc. VKL Group is promoted by Dr Varghese Kurian, NRI businessman and recipient of prestigious Pravasi Bharatiya Samman Award 2014 - the highest civilian honour for NRIs from President of India.
“Management of company consider this as a breakthrough to enter into Gulf market, which can be big potential market for the company's LED luminaries products,” added Fiem in the filing.
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