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Basra reveal the "biggest" Turkish investment of $ 700 million

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Twilight News / Sources at the Turkish consulate in Basra on Tuesday that the company's General Administration of iron and steel in Basra signed investment contracts with Yobe Holdnk company Turkish re-run iron and steel plant in Khor Al-Zubair.

The general director of the General Company for Iron and Steel in Basra under the Ministry of Industry and Minerals Abbas about, quoting a statement to the consulate Turkish Word for "Twilight News" that "the company's management and signed investment contracts worth $ 700 million with Yobe Holdnk Turkish will whereby restart and develop steel plant The hard reality in the Khor Al-Zubair area for 21 years. "

He explained that "the company the Turkish Yobe Holdnk will work to raise the production capacity of 440 thousand tons to one million tons in the period of 18 months."

The Director General of the company that "the contract provides for the sharing of profits between our company and the Turkish company, with the allocation of a certain percentage of the profits to the province of Basra."

Meanwhile, a Turkish consul in Basra province Farouk Qaimagja that "more than 100 Turkish companies are currently operating in the province of Basra and a section of these companies are working with Iraqi companies and are running at least 10,000 people from the people of Basra and providing job opportunities for them."

The consul that "Turkish companies have projects in all areas of the electricity production and the opening of crossing water and building hospitals and the establishment of international exhibitions in the field of aviation and work in the oil fields contribute to linking southern Iraq to the outside world by sea, land and air and thus establish a conduit for trade and work."

"The competition in the products of Turkish companies in the highs and Turkish companies provide quality European prices the Middle East, and accelerate end business in difficult circumstances and in harmony with the local and the fact that convergence historical, cultural and geographical contributes to encourage Turks to work with their fellow Iraqis together."

"The investment project contract was signed him in Basra province in the history of November 14, 2012 by the Turkish company UB Holding in iron and steel and the size of investment up to $ 700 million," adding that "This project is one of the largest investment projects outside the framework and energy projects that will create jobs for thousands of visual also will make Basra producer and exporter of iron and steel and stimulates Labor in Iraq. "

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