By John Lee.
Prime Minister Mohammed Shia al-Sudani opened the new Etihad Food Industries flour mill in the city of Medhatiah [Madhatiya], in Babil Governorate, on Thursday.
The project, a private sector initiative, aims to produce up to one million tons per year of high-quality zero-grade flour.
The prime minister also opened new production lines at the company's sugar factory, increasing the plant's daily output from 4,200 tons to 6,000 tons.
He also opened a vegetable oil extraction factory, a plant-based feed production factory, and a premix production factory at the company.
In his speech, al-Sudani highlighted the success of the private sector development, stating that the government offers unlimited support for creating more job opportunities, which currently include around 4,000 positions within the company's activities. Increased production could lead to future export opportunities.
The prime minister encouraged business leaders and private sector companies to take advantage of available investment opportunities and state-provided sovereign guarantees through the three-year budget law.
He announced an agreement with Japan for $300 million in financing for small and medium-sized projects, which will stimulate and establish the national industry.
The Etihad Food Industries in Babil province is one of the largest industrial companies in Iraq, comprising six factories: a sugar refinery, a vegetable oil refinery, a plant-based feed production plant, a soybean meal extraction plant, a premix production plant, and a yellow corn processing and drying plant.
(Source: PMO)
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