Iraq has officially approved the construction of a Chinese private company for the construction of its first industrial city dedicated to steel and metal production. According to the statement, the project will be carried out by Tsingshan Holding Group, which was selected by Iraq's Ministry of Industry in early 2024.
The industrial city will be located in Basra, the oil capital of southern Iraq, and Tsingshan Holding will undertake construction and development. The initiative aims to increase Iraq’s domestic steel production capacity and revitalize the sector, which has been struggling in recent years.
Abbas Hayal, Director of the Iraqi state-owned General Steel Company (GSC), confirmed that the government has approved the project. The new facility will be built on land previously owned by GSC, Iraq’s main steel production center.
Although Hayal did not share details of the project, officials say the industrial city will play a significant role in revitalizing Iraq’s steel industry. The move is seen as part of Iraq’s goal to strengthen its industrial infrastructure and reduce its dependence on steel imports. The project also aligns with the country’s strategy to modernize its industrial sector and boost economic growth by increasing production capacity.
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