Investment Authority in Diyala agreed with a local company to set up the biggest oil refinery in the province at a cost exceeding $ 100 million, and build more than 40 thousand residential units, with an investment of 200 thousand acres of farmland.
The official Investment Authority ,engineer Mjul Mahdi said in a statement for “Al Sabah”: that the Authority held in cooperation with the local administration in Diyala, the first investment conference in Sulaimaniyah province for the period from 17 to 22 of December, adding that at the conference which was attended by Tenths of global ,Arabic and local investment firms, an agreement was done with one of them to set up a giant oil refinery in the province at a cost of $ 137 billion and a capacity of up to 30 thousand bpd, especially after the second round for licensing of oil released by the Ministry of Oil deter companies from investing in the province, although the security situation improves and there is a lot of oil wells and specifically within Khanaqin.
He said the project aims to sufficient the actual need of the product oil in all areas of the province, as well as absorption of unemployment after the agreement with the company executing the operation of the labor of the people of Diyala, as well as the selection of cadres advanced engineers and specialists according to standards and guidelines set by the executing company.
He noted that the conference also witnessed the agreement with a number of Italian companies on building the largest residential compound in Diyala province, an area of 1300 acres stretching from the jurf al mlah until the sada area on the eastern side of the city of Baquba.
He said the project includes construction of 40 thousand residential units distributed among the employees and citizens equally under the installment method, as well as an agreement to establish a residential complex in the Saad camp consists of 3000 units at a cost of $ 240 million with the creation of buildings, markets, multi-layered recruitment of a building near the old central Baquba, at a cost of six million dollars. He added that the agricultural sector projects included the investment of 187 thousand acres in an agricultural area near the camp of the great new Iraq (Ashraf earlier) to establish a coefficient of paste and olives.