Basra – IEA – Mohammed Nasser
Basra Investment Commission Chairman Alaa Abdul Hussein Salman announced today, Tuesday, the start of the trial operation of a new investment iron and steel plant with a production capacity of 350 thousand tons annually.
Salman said in a press conference, attended by the correspondent of the (INA): “The trial operation of a new investment iron and steel factory with a production capacity of 350 thousand tons per year has begun, which will contribute to meeting the needs of Basra Governorate and neighboring governorates for iron,” noting that “the cost of establishing the project in its first phase amounted to 54 million dollars on an area of 160 dunums.”
He stressed that “the equipment was imported from Italy and America to include six furnaces and a rolling mill unit in the factory,” indicating that “the Ukrainian-Russian crisis has greatly affected the import of iron to Iraq, which highlights the importance of the project in reducing dependence on imports.”
For her part, the member of the provincial council, Atyaf Al-Tamimi, confirmed during the conference that “the council is working on developing a plan to enhance investment in Iraq and provide a safe environment for investors. It also aims to reduce dependence on imports and provide new job opportunities for Iraqis.”
In turn, the factory manager, Yasser Al-Abdeli, explained that “the project’s construction began in 2021, with the attraction of companies with a global reputation in the iron and steel industry,” noting that “the factory will produce reinforcing steel in sizes ranging from 10 mm to 32 mm, with plans to add new production lines for screws and nails in the future.”
It is noteworthy that Basra Governorate has recently witnessed the opening of a group of factories that are expected to contribute to achieving economic stability, providing new job opportunities and supporting economic development in the region.