Baghdad, March 10 (IANS) Iraqi Prime Minister Mohammed Shia’ al-Sudani reopened three key plants in Basra, southern Iraq, following years of closure since the US-led invasion.
In a statement on Saturday, al-Sudani’s office announced the reopening of a rolling mill plant, part of the State Company for Iron and Steel, which has been dormant since 2003. The plant boasts an annual production capacity of 500,000 tons, Xinhua news agency reported.
“Operating this factory will enable Iraq to reduce the import of iron, preserve foreign currency, and provide a national product and new job opportunities,” the statement quoted al-Sudani as saying.
Additionally, al-Sudani’s media office said in a separate statement the reopening of a urea fertiliser plant with a daily production capacity of 1,000 tons and a DAP fertiliser plant with an annual capacity of 500,000 tons, both part of the Southern State Company for Fertilisers.
These plants, closed for years, were reopened following contracts with two foreign companies.
Emphasising Basra’s pivotal role, al-Sudani added that the province has evolved beyond being just Iraq’s port and oil hub to becoming a key industrial centre, rightfully earning the title of Iraq’s economic capital, the statement said.
The US-led invasion of Iraq in 2003 led to the closure of many Iraqi factories due to chaos, tensions, and an unstable security situation. However, in recent years, the government has started to reopen some of these factories to lessen the economy’s dependence on crude oil exports, which make up more than 90 per cent of Iraq’s revenues.
–IANS
int/khz
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
