Displaying items by tag: Iraq
Iran to build 2Mt/yr cement plant in Iraq
01 May 2013Iraq: Iran plants to build a 2Mt/yr cement plant in Iraq, according to the Islamic Republic News Agency (IRNA). The project will cost around US$245m with an opening date set for 2015. Cement produced at the plant will be exported using Iranian brand names.
Sinoma to build cement production line in Iraq
01 May 2013Iraq: Sinoma International Engineering's Nanjing subsidiary has signed an EPC contract with Iraq-based Faruk Investment Group to build a 5300t/day cement clinker production line. The project is the seventh cement production line to be built in Iraq by Sinoma's Nanjing subsidiary.
IFC loans US$70m to Lafarge subsidiary in Iraq
02 January 2013Iraq: International Finance Coporation (IFC), a member of the World Bank Group, is providing a US$70m loan to help renovate a cement factory in Iraq.
The financing will allow Kerbala Cement Manufacturing (KCML), a subsidiary of Lafarge, to rehabilitate a state-owned plant near the city of Kerbala. KCML will undertake the work under a concession agreement with the government of Iraq. The financing is expected to aid Iraq's construction sector.
"This financing will help address the cement shortage that Iraq is facing and help the country meet supply gaps in its infrastructure," said Guy Ellena, IFC Director for Manufacturing, Agribusiness and Services in Eastern and Southern Europe, Central Asia, the Middle East and North Africa.
KCML is a joint venture between Lafarge and MerchantBridge, a London-based private equity group. The financing is being supplemented by a US$20m loan from Proparco, a development financial institution funded by the French Development Agency and private shareholders.
Gebr. Pfeiffer to supply VRM to Iraq
30 November 2012Iraq: Sinoma (Suzhou) Construction Co has placed an order for an MPS 5000 B vertical roller mill for raw material grinding from Germany's Gebr. Pfeiffer. The grinding plant will be set in GRD Cement Plant Company Tainall's 5000t/day cement plant located near the town of Sulaimaniah in northern Iraq. The MPS vertical roller mill on order is designed for a capacity of 450t/hour at a product fineness of 12 % R 90µm.
Lucky Cement to build plant in Iraq
27 April 2012Iraq: The board of directors of Pakistan's Lucky Cement Company has decided to set up a greenfield cement grinding plant with a production capacity of 0.87Mt/yr in Iraq under a joint venture. The board also decided to invest US$15m in the cement plant, which is estimated to cost US$30m as 50% share of its equity. The technical and financial evaluation of the proposed project has already been carried out.
Chinese firm to build US$180m plant in Iraq
07 December 2011Iraq: Sinoma International Engineering Co Ltd, a Jiangsu Province-based Chinese company principally engaged in the mechanical equipment and cement businesses, has recently signed an engineering contract with Iraq-based Gulf Research Development. Sinoma will build a 5000t/day cement production line in the Kurdistan city of Sulaymaniyah at a cost of $180 million.
Iraq approves USD 692m cement plant
22 June 2011Iraq: Iraq's cabinet has approved a USD 692m contract for the construction of a massive cement factory in southern Iraq. The 185-acre factory will be built in Diwaniya province, around 150km south of Baghdad according to government spokesman Ali al-Dabbagh.
The contract was awarded to a joint venture group consisting of an Iraqi company and an Italian firm, but officials declined to give further details. "(The cabinet) has given approval to award an investment licence to erect a cement factory in Diwaniya province to a (local) firm, which is in a joint venture with an Italian firm for a total value of USD 692m," said the cabinet in a statement.
Iraq has some of the world's largest oil reserves and is opening itself up to foreign investors to help it rebuild after decades of war and economic isolation. The government has set a target of USD 30bn for total investment in 2011, mostly in the energy, housing and agriculture sectors.
The National Investment Commission has previously put together an investment plan of 750 projects valued at USD 600bn for rebuilding the country. Its five-year plan totals USD 186bn, of which USD 86bn is to come from foreign and local private investment.