Mubasher: Bahrain’s sovereign fund Mumtalakat said Wednesday it signed a joint venture agreement with India's Synergies Castings Ltd to construct an aluminium casting and specialty alloy wheel manufacturing facility in Bahrain.
Mumtalakat will hold a 49% stake in the project that will operate with an annual production capacity of around 25,000 metric tonnes.
Mumtalakat is one of the smallest sovereign funds in the GCC region, with managed assets reaching $7.1 billion as at the end of September, 2014.
