The Investment Authority in Thi-Qar is about to reach an agreement with private and government banks in the province to provide guarantees to Turkish company Austm. It would provide loans to local investors to construct two residential areas in Shatrah.
Head of IPCC, Dr. Ismail Aboudi said that the authority has set up a workshop for local investors, businessmen and managers with presidents of private and government banks in the province.
General Manager, Abdullah Abu Abdullah, said that the company planned to create the biggest European style residential project. The first complex includes 45 buildings consisting of 8 floors each and 2, 200 m per apartment on 30 acres of land. An area of 200 acres is allocated to the second Complex to create 1400 villas, each unit consisting of two stories., An area of 2250 m also contains schools, mosques and other public utilities in addition to solar energy electricity.
Both projects are among the most unique architectural and engineering projects in Iraq and work will start next month after the completion of legal and technical approvals.
( Iraq Directory )