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Economy News _ Baghdad
Today, Wednesday, the Basra Governorate Investment Commission announced the granting of 13 investment licenses for large projects within its plan for the year 2023, while specifying the type of projects and their financial cost.
The head of the Basra Investment Commission, Alaa Abdul-Hussein, said, in an interview with the Iraqi News Agency (INA) and followed by "Al-Iqtisad News", that "the investment commission in the province granted, after the formation of its board of directors, 13 investment licenses for large projects within its plan for this year," pointing out that "The cost of these projects amounted to about $862 million."
Abdul Hussein added, "Part of these projects have been completed and run experimentally, while some projects have not been completed due to the incompleteness of the machines that will work in the projects," noting that "some projects have not yet been started, until the contract with the investor is completed, in addition to the existence of Excesses impede the work of projects, and that the Investment Authority is working with the local government to overcome the problem of abuses.
He pointed out that "the investment projects that were granted permission this year included a factory across the east, which is located in the Al Hadama area towards Umm Qasr on Safwan Road, and it is an adhesives factory that has been operated experimentally, and its production is supposed to reach more than 32 types of materials." adhesive, but now only 13 types are produced.
He pointed out that "the factory uses robot arms in the production process, and this process is the first of its kind in Basra Governorate, while the factory is the first of its kind in Iraq."
He continued, "Among the other investment projects is a factory for the production of cables and electrical wires, and the equipment for this project will be German and Finnish in origin, and Iraq is the first country in the Middle East and the third in the world to use this equipment, and the product will cover the country's need, and it is possible to export the surplus to neighboring countries." However, this factory has not been completed yet because the machines that will work in it have not been completed.
And he continued: "In addition to the sandwich panel production plant, whose completion rate has reached about 60%, and is specialized in the production of sandwich panels against heat and fires," in addition to the Basra Economic City project, which includes an iron and steel plant, and will produce, if the first phase is completed, 120 thousand tons annually. The completion of all phases will produce 1.5 million tons annually, in addition to a 28-megawatt thermal power plant project, a concrete production plant, a precast concrete plant, a water desalination plant and various warehouses.
Abdul Hussein pointed out, "An investment license has also been granted for a typical commercial market project in the center of Basra Governorate, which will include 540 shops of various sizes, warehouses and parking lots with high-quality specifications, and this modern market will be modern and with excellent specifications similar to neighboring countries, in addition to granting an investment license." For the Al-Shorouk residential complex project with 800 vertical housing units in the center of the governorate, and granting an investment license for the Al-Naseem residential complex project, which will include 1978 various housing units in the center of the governorate, and a residential city with 4000 housing units, and this residential city will be integrated and exemplary, and will contain large green spaces.
He noted that "an investment license has been granted for a park and nursery project in the Shatt al-Arab on an area of 34 dunums, and the park will contain gardens, reserves, fountains and game cities."
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