KRG Prime Minister Masrour Barzani on Tuesday inaugurated the largest and most advanced steel factory in Iraq and the Kurdistan Region which will create 1,000 job opportunities, a flagship project of the Kurdistan Regional Government's ambitious economic reform agenda.
At the inaugural ceremony, the Prime Minister affirmed the industrial project is one of many strategic investments the ninth Cabinet is making to diversify and strengthen the Kurdistan Region's economy as the Kurdistan Regional Government continues to deliver on its promises to support the private sector.
The Med Steel factory costed $100 million USD to build and will produce high-grade metal and steel, in line with international standards.
The 617,500 sq.m. factory has an annual production capacity of 350,000 tons of steel and is estimated to create over local 1,000 jobs. The factory will also recycle metal scraps and steel, contributing to a greener economy.
Prime Minister Barzani emphasised that the ninth Cabinet's vision for the Kurdistan Region involves sustainable growth in all sectors of the economy, and requires a shared commitment to the development of the Kurdistan Region. "I am glad to see the fruits of our efforts, and to see Kurdistan Region taking a step forward, day after day," the prime minister stated.