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SULAYMANIYAH - A 3,000 acre industrial town will be constructed in Arbat district of Sulaymaniyah Governorate, officials said.
Yesterday Sulaymaniyah Investment Directorate met with a number of private companies in Sulaymaniyah Governorate Council offices to discuss the master plan for "The Industrial Town of Arbat District".
Yasin Mahmoud, spokesman for Kurdistan Investors Union, told AKnews the construction of the industrial town will begin this year because all formal bureaucratic boxes have been ticked.
Almost 450 mixed sized factories will be constructed in the town with an initial expenditure of $3 billion USD (3,500 billion IQD).
Mahmoud says Iran is especially interested in the project because the EU and U.S. are imposing economic sanctions on the Islamic Republic. It hopes the project is launched soon so that it can rescue some of its factories by relocating them to Arbat district, explains Mahmoud.
"It will become a very important project for Sulaymaniyah because it will change the city from a tourist destination to an industrial hub," he added.
Farman Gharib, Sulaymaniyah investment director told AKnews that after the master plan for the project is approved, the plan will be opened to competing companies to bid for spaces.
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Yesterday Sulaymaniyah Investment Directorate met with a number of private companies in Sulaymaniyah Governorate Council offices to discuss the master plan for "The Industrial Town of Arbat District".
Yasin Mahmoud, spokesman for Kurdistan Investors Union, told AKnews the construction of the industrial town will begin this year because all formal bureaucratic boxes have been ticked.
Almost 450 mixed sized factories will be constructed in the town with an initial expenditure of $3 billion USD (3,500 billion IQD).
Mahmoud says Iran is especially interested in the project because the EU and U.S. are imposing economic sanctions on the Islamic Republic. It hopes the project is launched soon so that it can rescue some of its factories by relocating them to Arbat district, explains Mahmoud.
"It will become a very important project for Sulaymaniyah because it will change the city from a tourist destination to an industrial hub," he added.
Farman Gharib, Sulaymaniyah investment director told AKnews that after the master plan for the project is approved, the plan will be opened to competing companies to bid for spaces.
[You must be registered and logged in to see this link.]
