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)