Major Iraq project announcements 'imminent'
Projects include new $210 cement plant, new cargo airport industrial zone and five other major investment contracts
Major project announcements in Iraq, including projects attached to the construction of the much delayed $1.35bn Al-Diwaniyah International Commercial airport – are imminent, according to local news sources.
The projects, which also include a $210m cement plant and five other investment contracts worth around $250m, present huge investment opportunities for contractors and developers according to Al-Diwaniyah governorate investment authority deputy chairman Hussein Al-Yassiri.
“We are also preparing the designs for an industrial zone. Our previous projects concentrated on services but the planned projects for this year are devoted to industry, trade and development. Besides the airport, they could exceed $1bn,” he said.
Kuwait’s Al-Nasriyah Company earlier this year signed an agreement to build the new airport and operate it under a 45-year contract. The airport will cover around 700 hectares and will be built adjacent to a railroad linking the capital Baghdad with Basrah, the main port of Iraq. It will have a 3.6km runway, and will initially operate as a cargo-only airport which is intended to attract logistics companies and international cargo agents. Future expansion plans include passenger operations which would hopefully attract property investors, residents and tourists to the area.
Target completion date for the project is 31 December 2017.