KRG considering $10bn Investment from China

By John Lee.

China's Gezhouba Group has offered to invest $10 billion in Iraq's Kurdistan region.

According to a report from Kurdistan24, a translation of which was published on the company's website, the investment is intended for roads, railways, the power sector and dams.

Mohammed Shukri, chairman of the Kurdistan Investment Board, is quoted as saying that the KIB has formed a committee to consider the offer.

According to Wikipedia, a major shareholder of the company is the state-owned China Gezhouba Group Corporation (CGGC), which is in turn a subsidiary of the China Energy Engineering Corporation (Energy China).

(Sources: Kurdistan24, Gezhouba Group)

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