By John Lee.
Iraq's Minister of Industry, Khaled Battal Al-Najm, discussed the contract procedures with China's Tsingshan Holding Group for the development of a specialized industrial city focused on iron and steel production in Basra.
The meeting, held on Monday with ministry officials and the Chinese delegation, reviewed the steps and details involved in finalising the agreement, which involves development of the General Company for Iron and Steel site.
Minister Al-Najm emphasized the ministry's commitment to establishing and developing industrial cities, highlighting the importance of this project in boosting Iraq's steel industry and supporting the ongoing development in Basra and the country at large.
He directed the relevant parties to thoroughly review the contractual obligations and complete the necessary steps to advance the project.
According to a statement earlier this year from the Ministry of Industry, the new facility will integrate sponge iron [direct reduced iron (DRI)] factories, along with aluminum and stainless steel factories, catering to both local market needs and potential future exports.
(Source: Ministry of Industry)
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