China plans to invest 3 billion dinars in Babylon

01/11/2016 12:01:00 am

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 in solving the crisis housing preservation.
The head of the Investment Commission of Babylon victory 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 residential projects "noting that" the Commission supports projects like this that make a strong push for the establishment of residential units needed by the province. "
Hammoud added 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". For his part, Managing Director of the Chinese company Beijing Yang Lubin said, in an interview to the (long-Presse), "The specialized construction contracting company working in Iraq ten years ago."