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Iraqi ministry of industry has signed a contract with companies from Egypt and some Iraqi companies to invest in the Muthana Cement Factory in an attempt to boost its production capacity
This is the third investment project in the Iraqi cement industry with the first investor being a French company in Karbala and the second being a Turkish investor in Babel.
The duration of the contract will be for 14 years with a target to produce 1.1mn tonnes per year.
The companies involved in the project will have a free share in the product that will reach at the end to 540,000 tonnes annually.
Muthana Cement Factory has been one of the main projects with a total production capacity of two million tonnes annually, but the previous war circumstance had affected its production negatively.