New Iraq-China Contracts for Sponge Iron Plant and $2bn Industrial City

By John Lee.

Iraq's General Company for Iron and Steel has signed two major contracts in Basra under the patronage of Industry and Minerals Minister Khaled Battal Al-Najm:

1. The first contract, signed with Al-Qaim United Company, involves the establishment of a sponge iron plant with an annual production capacity of one million tonnes. This project is expected to support local steel production and contribute to Iraq's ongoing construction boom.
2. The second contract, signed with Tsingshan Holding Group, concerns the creation of the Jabal Al-Akhdar [Green Mountain] Industrial City, Iraq's first specialised steel and construction materials industrial zone. The project, valued at $2 billion, aims to attract further industrial investments and aligns with the government's vision for economic diversification and industrial expansion.

Minister Al-Najm expressed gratitude to Prime Minister Mohammed Shia Al-Sudani for his support in achieving these industrial milestones and emphasised the importance of these projects in strengthening Iraq's steel sector and broader industrial development.

(Source: Ministry of Industry and Minerals)