Tuesday, April 17, 2007
Iraq has offered 12 reconstruction projects to international companies
Business, Reconstruction
(IDP) - As part of the Ministry of Industry’s programme to develop the sector and increase its capacity, Iraq has offered 12 projects to international companies. The projects are in cement, steel, petrochemicals, fertilisers, glass, paper, and automobiles. In a press conference, Minister Fawzy Al-Hariri said the foremost condition that must be met is guaranteeing the rights of the workers at these plants. This is the priority when coming to sign with a foreign investor. The Minster also detailed the estimated amounts required to revitalise each of the industrial plants.
The glass factory in Ramadi will need approximately US$50m, the petrochemicals production company will need approximately US$120m, the iron and steel company in Basra will need US$220m, and the four cement plants in west of Iraq, west of Mosul, Karbala, and Muthanna will need approximately US$360m. Al-Hariri also invited investments in the textile industry. The Minister stated that the investment period is between 10 and 20 years and that preference will be given to offers that best serve Iraq’s economic interests, the ministry, and the workers.
The glass factory in Ramadi will need approximately US$50m, the petrochemicals production company will need approximately US$120m, the iron and steel company in Basra will need US$220m, and the four cement plants in west of Iraq, west of Mosul, Karbala, and Muthanna will need approximately US$360m. Al-Hariri also invited investments in the textile industry. The Minister stated that the investment period is between 10 and 20 years and that preference will be given to offers that best serve Iraq’s economic interests, the ministry, and the workers.
Labels: Minister Fawzy Al-Hariri, Ministry of Industry, reconstruction contracts
