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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Baghdad Metro is turning into an “investment project”.. Will the investor need 23 years to get his m

    Rocky
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    Baghdad Metro is turning into an “investment project”.. Will the investor need 23 years to get his m Empty Baghdad Metro is turning into an “investment project”.. Will the investor need 23 years to get his m

    Post by Rocky Thu 15 Feb 2024, 4:22 am

    [size=35][size=35]Baghdad Metro is turning into an “investment project”.. Will the investor need 23 years to get his money back?[/size]
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    Economy

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    02-15-2024 | 04:02
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    Alsumaria News - Economy

    In an announcement that came days after the signing of the Baghdad Metro contract, the Iraqi government confirmed that the project had been amended with regard to the financing aspect, so that it would be an investment project borne by the investing company, instead of being borne by the state treasury as was planned in previous years when the project was developed. .


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    Speaking about the Baghdad Metro, as well as the Holy Najaf-Karbala train, the Council of Ministers said in a statement that after extensive study, the (economic model) was changed from implementation through the government budget to implementation through investment method by international companies, which ensures that the two projects are implemented in a way that does not... It burdens the government budget, and differs from what was proposed in previous years (government implementation).”



    From here, Al-Sumaria News sets out to find out how long the investing companies will be able to recover the money they will spend on the Baghdad metro project.

    The cost of the project is estimated at 17 billion dollars. On the other hand, in televised statements, the Prime Minister’s Advisor for Transport Affairs, Nasser Al-Asadi, said that the tickets that will be paid via the Baghdad Metro will not differ from what you currently pay on public transportation for transportation in Baghdad.

    The highest cost of transportation within Baghdad by public transportation from the furthest point of Rusafa to the furthest point of Karkh is two thousand Iraqi dinars, and the lowest fare is 500 dinars, which means that the average fare is one thousand and 250 Iraqi dinars.

    While government plans indicate that the Baghdad Metro will transport 3 million citizens daily, this means that the metro’s daily revenues will reach 3.7 billion dinars per day, or more than 2 million dollars per day, which means that the investment companies implementing the Baghdad Metro will need 8,500 working days, to recover Its money and then start making profits, which is equivalent to 23 years.

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