Iraq grants $20B projects to Chinese companies

Iraq has given construction projects worth $20 billion in the southern province of al-Muthanna to a consortium of Chinese companies, an Iraqi official said on Sunday.

"The projects include the construction of a power station and a factory for floors and porcelain with a production capacity of 32,000 m2 per day, and a factory for ceramic walls and façades with a capacity of 36,000 m2 per day," Adel Al-Yasiri, the head of the al-Muthanna Investment Authority, said in a statement.

He added that an initial approval has been granted to establish the projects.

"The first phase of the projects amounts to $2 billion where two sites have been prepared near the Samawah refinery for the companies to complete the remaining procedures," he said.

Other projects include the construction of a sanitary ware factory with a capacity of 360 m3 per day, a ceramic factory for accessories with a capacity of 108,000 m2 per month, and a factory for papers and 125 million cardboards per month.