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Economy News - Baghdad
The Minister of Industry and Minerals, Khaled Battal Al-Najm, announced the initial approval of transferring the development of the industrial city in Basra Governorate to an Australian company.
In a statement on the sidelines of the meeting of the Board of Directors of the Industrial Estates Authority, the minister stressed the necessity of "completing all procedures and requirements for developing infrastructure and services, preparing dividers for the industrial city in Basra, moving towards industrial cities projects, and the interest of the Iraqi government and the ministry in establishing these projects for the purpose of establishing formal and advanced industrial complexes working on Attracting industrialists and businessmen.
He drew attention to "focusing on the oil, petrochemical, chemical and engineering industries, due to the economic status enjoyed by Basra Governorate, as it is the economic and vital artery in Iraq, and the need to provide efficiency in work, implemented works, and the financial solvency of the developer company."
He pointed out to "the necessity of adhering to the timelines specified for the development of the industrial city from the date of implementation, preparation of technical schedules and an economic feasibility study by the developing company, and taking legal measures in the event of the company's delay in the work of the company in accordance with the applicable regulations and laws, as well as taking into account the future expansion of the industrial city through the search for land." A new one that is close to the port of Fao for the purpose of benefiting from the transportation of raw materials and others.
The meeting dealt with "comprehensive discussions and deliberations about the reality of the industrial city in Basra, which has an area of (174) dunums, with (69) divided places, how to prepare technical schedules by the developer company, the nature of providing services, infrastructure, and the production capacities of the factories that will be established in them, and the job opportunities that will be provided, and it was approved. In principle, to refer the development of the industrial city in Basra to the Australian company (ACA ALLIANCE). According to the statement.
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