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The establishment of the first industrial city and the largest iron factory in Basra
- Time: 05/05/2021 08:41:54
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{Economist: Al Furat News} The Basra Investment Commission has included mega projects within the current year’s plan, the most prominent of which is the implementation of a large iron and steel plant, and the first industrial city to help employ thousands of unemployed.
"The plan for the current year includes the establishment of giant investment projects, most notably the iron and steel plant with a design capacity of more than one million tons of reinforcing and industrial iron," the commission's president, Alaa Abdul-Hussein, said.
He added that "the plan also includes residential, industrial, recreational and hotel projects whose construction cost is estimated at hundreds of millions of dollars," noting that "almost all sectoral approvals have been completed in coordination with Basra's local administration in preparation for signing the investment licenses."
Solman pointed to “completing the government departments’ approvals to establish the first major industrial city by preserving an area of 1,000 dunams, as it was planned to accommodate a large number of petrochemical industrial investment projects and projects for the industry of iron, steel and electronic sectors. He mentioned that “the location of the industrial city was chosen near the sources of oil and gas wealth, ports, and highways, which would help investors to export the surplus to global markets and reduce the cost of imported raw materials.”
Hazem
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{Economist: Al Furat News} The Basra Investment Commission has included mega projects within the current year’s plan, the most prominent of which is the implementation of a large iron and steel plant, and the first industrial city to help employ thousands of unemployed.
"The plan for the current year includes the establishment of giant investment projects, most notably the iron and steel plant with a design capacity of more than one million tons of reinforcing and industrial iron," the commission's president, Alaa Abdul-Hussein, said.
He added that "the plan also includes residential, industrial, recreational and hotel projects whose construction cost is estimated at hundreds of millions of dollars," noting that "almost all sectoral approvals have been completed in coordination with Basra's local administration in preparation for signing the investment licenses."
Solman pointed to “completing the government departments’ approvals to establish the first major industrial city by preserving an area of 1,000 dunams, as it was planned to accommodate a large number of petrochemical industrial investment projects and projects for the industry of iron, steel and electronic sectors. He mentioned that “the location of the industrial city was chosen near the sources of oil and gas wealth, ports, and highways, which would help investors to export the surplus to global markets and reduce the cost of imported raw materials.”
Hazem
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