Chinese company plans to establish a plant for Thermiston in Babylon at a cost of three billion dinars

2016-01-10 19:21:32 | (Voice of Iraq) - Babylon

It announced Investment Authority of Babylon, on Sunday, received a request from a Chinese company to build plant Thermiston in the province, (100 km south of Baghdad), at a cost of up to three billion dinars, and a production capacity of 60 thousand square meters per year, expected to contribute to solving the housing crisis the governorate.

The head of the Investment Authority of Babylon, Nasr Hammoud, in an interview to the (long-Presse), "The Chinese Beijing company made a formal request to the Investment Authority in the industrial sector and the establishment of plant Thermiston cost of up to three billion dinars and a production capacity of 60 thousand cubic meters per year to take advantage of it to projects housing ", pointing out that" the Commission supports projects like this that make a strong push for the establishment of residential units needed by the province. "

He added Hammoud, that "the Commission will examine the economic feasibility of the project and financial efficiency of the company and make sure the documents provided by the approach the concerned authorities to provide a piece of suitable land for the project," noting that "local government body are keen to attract foreign companies to maintain the presence of a lot of investment opportunities in it."

For his part, Managing Director of the company Beijing Chinese, Yang Le Pen, in an interview to the (long-Presse), "The company is specialized construction contracting and operating in Iraq ten years ago," attributing the reason for choosing Babylon to establish a project Althermiston, to "work the company successfully in the project for the benefit of Hilla textile plants, and the presence of several projects inside Iraq. "

The Investment Authority of Babylon was founded in 2008, and it was granted an investment license in 82 different residential, service and industrial and agricultural sectors.