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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The industry explains the reason for the delay in the rehabilitation and operation of steel and iron

    Rocky
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    • Post n°1

    The industry explains the reason for the delay in the rehabilitation and operation of steel and iron Empty The industry explains the reason for the delay in the rehabilitation and operation of steel and iron

    Post by Rocky Tue Jun 08, 2021 8:44 am

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    Baghdad - INA - Nassar Al-Hajj The
    Ministry of Industry and Minerals explained, today, Tuesday, the reasons for the continued suspension of steel and iron factories and the delay in their rehabilitation and operation, while revealing the number of suspended factories in Iraq.
    A spokesman for the Ministry of Industry, Mortada Al-Safi, told the Iraqi News Agency (INA): "The factories of the General Iron and Steel Company are huge factories that need large sums of money to revive them," noting that "the ministry, years ago, embarked on a project to rehabilitate iron and steel factories by contracting with a company (Turkish UB Holding) to rehabilitate steel and rolling mills with a capacity of (500) thousand tons annually of rebar.
    He stressed that "the project is continuing, as all equipment has been delivered to both manufacturers, and a lot of these equipment have been installed, with some stops taking place due to the need for financial allocations," noting that "the minister agreed with the Basra Governorate to borrow (50) billion dinars, and no receipt was received." An amount so far, noting that work on the project continues with the help of the profitable sister companies until the loan amount or any other financing is obtained.
    He added that "the Ministry of Industry and Minerals has adopted a national project and an ambitious plan to rehabilitate and operate the stalled factories, numbering 83, which stopped after being destroyed due to terrorism, the obsolescence of their lines and machines, or the lack of feasibility in operating them due to the openness of the market and unfair competition with the importer."
    Al-Safi noted that "the project is carried out through short, medium and long-term plans, and according to the type and percentage of damage in those factories and factories," noting that "since May 2020, the short-term plan has been launched, and 16 projects, factories and production lines have been operated and opened. The last of which was the Baghdad battery production project.
    He stressed that "the ministry is continuing and is continuing to implement the plans, knowing that the rehabilitation is done either through the companies' own resources for factories with minor damage, or through participation and investment for destroyed factories that need huge amounts of money, such as phosphate factories and Nineveh medicines and others."
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