Iranian Group to Invest in Basra

By John Lee.

A group of Iranian companies has announced its intention to invest in the industrial and oil sectors in Basra.

The Basra Investment Commission says that $310 million dollars will be invested.

The Iranian group’s representative, Hussein Binae, siad the group will spend $60 million on a factory to make cables and electric transformers, as well as investing another $250 million in the iron, car, machinery and rail industries.

(Source: Aswat al-Iraq)

One Response to Iranian Group to Invest in Basra

  1. George October 31, 2012 at 1:25 pm #

    What ever happened to Al-Basrah & Al-Warka Investment bank I and many others bought thousands of Dollars of shares with went to.