The head of the Wassit Investment Commission today laid the cornerstone for a $24m [29 billion Iraqi dinar] iron and steel factory.
This is the first factory to be established in the province in the last 40 years, the province's media director stated.
Majid al-Attabi told Aswat al-Iraq that the factory will be established in Aziziyah area, 90 km north of Kut, by an Iraqi investor.
The last factory was build by the government 40 years ago for textile production.
The factory will provide 150 local jobs in addition to 15 percent of foreign workers with engineering specializations.
Wassit's Investment Commission gave permission, since its establishment in 2007, for 10 investment permits in various sectors.
(Source: Aswat al-Iraq)