Create a huge housing project in Basra at a cost of $447 million


03/08/2017

Economy news _ Baghdad


The Federal Government agreed Thursday on a huge national housing project in Maysan governorate.

According to a statement by the Cabinet Secretariat received a copy of "news," the Council of Ministers approved the national investment investment leave in accordance with the provisions of the investment law number 13 year 2006 rate to my company (verbright Beihian Construction Development Shenzhen Co. Ltd) Chinese copper company to trade and General Contracting for national housing project in Maysan governorate.

"The decision to refer the project to create 3812 horizontal units with various services (business, infrastructure, public services), 447 million dollars of cost and duration of three years on a numbered plot (14/1596 mazzeh/Misan governorate) belonging to the Ministry of construction and housing, municipalities and public works in space (652) dunums.

And the statement that "approval required project financing plan associated with ensuring the financing of credit financial institution contact based on the provisions of article 7 paragraph b, national Ace Rewards account article 19/II of the investment law.

"Also ensures that the investment contract is between Maysan governorate, two companies above with the commitment of both companies to implement a space 14 thousand square meters of public utility services (school, clinic, police station) at their own expense.

The Council's decision concluded his approval to provide the Secretariat to the Cabinet of the investment after signing the contract.

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