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[size=36]The Iron and Steel Company in Basra announces the launch of two investment projects[/size]
Economie| 02:55 - 26/11/2021
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Baghdad - Mawazine News
The General Company for Iron and Steel in Basra announced, on Friday, the launch of two investment projects with the aim of developing the iron and steel industry according to modern technology and expanding the company's work and production in all industries.
In an interview with local agencies, the general manager of the company, Musallam Nasser, said that the company, through the Ministry of Industry and Minerals, has proposed new investment opportunities to establish a factory for the production of “pallet” according to modern technology, with a production capacity of 3 million tons annually and within an integrated project that is scheduled to be established at the site Ishtar is adjacent to the company.
He pointed out that there is another project that has been put forward for investment, which is currently in the process of announcing the establishment of a factory for the production of sponge iron to be a tributary to the steel factory and a auxiliary alternative, especially in light of expectations that the scrap material for the steel factory will run out within about two years.
He explained that these investment projects will be an important tributary to the Iraqi economy and contain melting furnaces with advanced and modern technology, in addition to abandoning or reducing the company's dependence on scrap and switching to the sponge iron industry, while stressing the need to support the company by providing financial liquidity for the purpose of completing the rehabilitation of the steel factory and installing its equipment. After reaching the final stages of civil works. Ended 29/A 4
The General Company for Iron and Steel in Basra announced, on Friday, the launch of two investment projects with the aim of developing the iron and steel industry according to modern technology and expanding the company's work and production in all industries.
In an interview with local agencies, the general manager of the company, Musallam Nasser, said that the company, through the Ministry of Industry and Minerals, has proposed new investment opportunities to establish a factory for the production of “pallet” according to modern technology, with a production capacity of 3 million tons annually and within an integrated project that is scheduled to be established at the site Ishtar is adjacent to the company.
He pointed out that there is another project that has been put forward for investment, which is currently in the process of announcing the establishment of a factory for the production of sponge iron to be a tributary to the steel factory and a auxiliary alternative, especially in light of expectations that the scrap material for the steel factory will run out within about two years.
He explained that these investment projects will be an important tributary to the Iraqi economy and contain melting furnaces with advanced and modern technology, in addition to abandoning or reducing the company's dependence on scrap and switching to the sponge iron industry, while stressing the need to support the company by providing financial liquidity for the purpose of completing the rehabilitation of the steel factory and installing its equipment. After reaching the final stages of civil works. Ended 29/A 4
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