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China plans to invest 3 billion dinars in Babylon


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01/11/2016 (00:01 pm)   -   the number of readings: 186   -  number (3544)
 
 
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Babylon / long-Presse 
 



It announced Investment Authority of Babylon, on Sunday, received a request from a Chinese company to build plant Thermiston in the province, (100 km south of Baghdad), at a cost of up to three billion dinars, and a production capacity of 60 thousand square meters per year, expected to contribute in solving the crisis Accommodation in the governorate. 
The head of the Investment Commission of Babylon victory Hammoud, in an interview to the (long-Presse), "The Chinese Beijing company made ​​a formal request to the Investment Authority in the industrial sector and the establishment of plant Thermiston cost of up to three billion dinars and a production capacity of 60 thousand cubic meters per year to take advantage from residential projects, "adding that" the Commission supports projects like this that make a strong push for the establishment of residential units that you need to maintain. 
"Hammoud added that" the Commission will examine the economic feasibility of the project and financial efficiency of the company and make sure the documents provided by the approach the concerned authorities to provide a piece of suitable land for the project, "noting that" local government body are keen to attract foreign companies to maintain the presence of a lot of investment opportunities in ". For his part, Commissioner for company Beijing Chinese Yang Lubin Director said, in an interview to the (long-Presse)," The company is specialized construction contracting works in Iraq ten years ago. "

 

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Apparently, this is a Hilla Textiles plant.  If the investment is in dinars, then 3,000,000,000 dinars/(1,100 dinars/USD) = 2,727,273 USD.  The production claimed is  60,000 m2/yr or 71,760 square yards per year or 230 square yards per day for a six day work week.  This is roughly equivalent to a strip of fabric one yard wide that is laid on a football playing field 2.3 times side to side and hardly covering any football playing field area.  This doesn't seem like a significant textiles plant but maybe the type of fabric makes it significant.

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Chinese company plans to establish a plant for Thermiston in Babylon at a cost of three billion dinars
 

3259.jpg         separator.gif Economy News / Muthana ...

 

It announced Investment Authority of Babylon, on Sunday, received a request from a Chinese company to build plant Thermiston in the province, (100 km south of Baghdad), at a cost of up to three billion dinars, and a production capacity of 60 thousand square meters per year, expected to contribute to solving the housing crisis the governorate.

The head of the Investment Authority of Babylon, Nasr Hammoud, in a newspaper that "the Chinese Beijing company statements submitted a formal request to the Investment Authority in the industrial sector and the establishment of plant Thermiston cost of up to three billion dinars and a production capacity of 60 thousand cubic meters per year to take advantage of it residential projects," noting that "the Commission supports projects like this that make a strong push for the establishment of residential units needed by the province."

He added Hammoud, that "the Commission will examine the economic feasibility of the project and financial efficiency of the company and make sure the documents provided by the approach the concerned authorities to provide a piece of suitable land for the project," noting that "local government body are keen to attract foreign companies to maintain the presence of a lot of investment opportunities in it."

For his part, Managing Director of the company Beijing Chinese, Yang Le Pen, in an interview that "the company is specialized construction contracting and operating in Iraq ten years ago," attributing the reason for choosing Babylon to establish a project Althermiston, to "work the company successfully in the project for the benefit of Hilla textile plants, and the presence of several projects inside Iraq. "

The Investment Authority of Babylon was founded in 2008, and it was granted an investment license in 82 different residential, service and industrial and agricultural sectors.

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258791-thumb.jpg


 

01/14/2016

Struck the province of Baghdad memorandums of understanding with international companies competent to carry out a number of housing, roads, schools, health and infrastructure projects in a manner postpaid, revealing having to stop the completed projects by 80 percent because of the country's financial crisis. 
Governor of Baghdad, Ali Mohsen al-Tamimi said in a statement »Sabah », that the capital is an urgent need to develop the service aspect and advancement after the cessation of a large number of important projects as a result of the financial crisis experienced by the country, noting that these projects are carried out to maintain according to the latest international standards, however, he stopped before completion after they have been exhausted, maintaining all the amounts that have .

He said the province signed a memorandum of understanding with a number of representatives of Chinese companies, Thai and European to complete service projects in the capital in a way payment term, as well as discuss plans and projects of strategic and future in the areas of construction and reconstruction, noting that the province of Baghdad, seeking cooperation and contracting with major competent foreign companies in the field of reconstruction and construction of the building a number of housing projects and infrastructure, as well as roads, schools, parks water projects. 
According to Tamimi that more than 700 projects vital sectors, such as building schools or roads or residential complexes, stopped for lack of financial allocation, returned to work b »term» the most security for the implementation of this vital projects and duration record is good, especially that the province is keen to be the conclusion of the agreements the existence of legal experts good. 
In the same vein, he added that the province was forced to stop the projects up rates of completion to 80 percent because of the refusal companies implemented only after their financial dues, alluding that the province and directed many direct calls for companies sober for the completion of projects not on the financial allocation, stressing the urgent need for the rehabilitation of all projects and not only the implementation of new projects.

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Blueskyline- you get it.  The one belt one road initiative is the ONLY reason I've stayed in this investment. The silk road will change the entire world as we know it. It will propel China to superpower status, and enrich all the emerging market countries in it's path (Iraq being one of them). It will create a new super cycle in commodities once the Asian Infrastructure Bank starts lending in June of this year.  The silk road by far should be the most talked about thing on this discussion board yet it is never brought up.   How can a massive trade route be built that goes straight through a war zone?  I think that a revaluation is possible in order to bring security to Iraq.  They will not let Iraq fail, because the world is depending on the Silk Road to reignite the world's economy and drive growth and Iraq is a vital part of the plan. There will either be a revaluation to help with security or very soon you will see China get involved with the ISIS situation to help drive them out.  Either way Iraq will be prosperous, it has to be, the world is depending on it. 

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