Basra's Governor, Shaltagh Abboud al-Mayyah, discussed the investment opportunities available in the province with a delegation representing the South Korean companies, according to a press release from the province’s information office on Thursday.
“Governor Shaltagh received a South Korean delegation comprising the country's Ambassador to Baghdad and representatives of investment firms, for talks on means to enhance cooperation between the two sides,” read the statement received by Aswat al-Iraq news agency.
The governor was quoted as saying that the local government in Basra is willing to expand relations with the South Korean side through opening a trade representation office in the central part of the city.
“The important projects in the city will be focusing on the fields of oil and gas. The companies coming to Basra will include Samsung and SK Group,” the Ambassador said.
The Shiite province of Basra, 590 km south of the Iraqi capital Baghdad, has five commercial ports and two oil ports: al-Maaqal, established in 1916 by the British forces and handed over to Iraqi authorities in 1937; and Faw, a small port on the al-Faw Peninsula near the Shatt al-Arab and the Persian Gulf.
In the early 1970s, Umm al-Qasr port was built, and in 1974, Khour al-Zubeir and Abu Falous ports were established on the Shatt al-Arab.
The area surrounding Basra has substantial petroleum resources and many oil wells. The city’s oil refinery has a production capacity of about 140,000 barrels per day (bpd).
Basra is in a fertile agricultural region, whose main products including rice, maize corn, barley, pearl millet, wheat, dates and livestock.
(Source: Aswat al-Iraq)
(Picture: Shatt al-Arab waterway, near Basra)