Videocon is setting up a $30 million manufacturing plant in Bahrain in joint venture with United Commercial Agencies (UCA) of Bahrain. A site has already been selected for the project. The Oberois are setting up a $70 million island resort in a joint venture.

The Videocon-UCA project will manufacture televisions in the first two years and in the third year will start manufacturing refrigerators. The first year's production is expected to be between $12 million and $15 million per year and go up to $25 to $30 million. These goods will be sold in the Gulf, Middle East, African and European markets. While Videocon will manufacture the product, UCA will look after the marketing.

According to Bahrain Promotions & Marketing Board(BPMB) acting chief executive R Marriot, investments to the tune of around $200 million have been made by Indian companies in Bahrain. Apart from being a gateway to the Gulf markets, the Indian companies could benefit from potential business from Iran. Iran is making huge moves to bring itself back into the commercial fold and this has great potential for business, he said. Bahrain has also opened up its sea route with Iran. BPMB has been organising a series of seminars across the country and was here selling Bahrain as the gateway to the Gulf markets.