$100 million steel factory opened in Erbil, Iraqi Kurdistan

[SocalDinar]

$100 million steel factory opened in Erbil, Iraqi Kurdistan

Posted on May 18, 2021 by Editorial Staff in Industry, Politics

Masrour Barzani inspects steel factory in Erbil, Iraqi Kurdistan, May 18, 2021. Photo: KRG

HEWLÊR-Erbil, Iraqi Kurdistan region,— A giant steel factory was opened in Erbil on Tuesday, which will be able to produce nearly 1,000 tons of steel per day, Iraqi Kurdistan region Prime Minister Masrour Barzani said.

The Med Steel factory has been built in Erbil, the capital of the Kurdistan region. The Kurdistan Regional Government (KRG) spent $100 million on the project, it said in a statement.

Barzani has called the plant the “greatest and most advanced factory in Iraq and the Kurdistan region.”

“We will do our best to diversify the economy of Kurdistan,” Barzani said at the event announcing the opening of the factory. “I am glad to see that such a great factory was built with international standards.”

“We have heard this factory has the capacity to produce 350 thousand tons of metal and steel annually,” he stated, adding steel could be exported to Iraq and elsewhere. “It will also create more than a thousand job opportunities.”

The PM said the Kurdistan region is rich with natural resources but these resources have not been used “sufficiently” so far.

Other smaller factories are also located in the steel factory complex, such as one which will produce 52 megawatts of power. There are also metal melting and recycling factories.

Abdulstar Majeed, a member of the Kurdistan parliament from the Islamic Kurdistan Justice Group, told KDP-affiliated media outlet, Rudaw, he will submit a proposal to the legislature to push for the reopening of factories which were operating before 2003.

“The idea is to find job opportunities for the youth and unemployed in the Kurdistan region,” Majeed said. “During the reign of the Baathist Regime, a great number of factories were operating and many people worked there.”

Mohammed Shukri, the head of the Kurdistan Board of Investment, told Rudaw they have approved proposals to build 163 factories throughout the Kurdistan region.

The KRG said on Friday that a large complex of silos and factories is being built in Erbil to receive and process locally-grown wheat, creating over 3,000 jobs.

The Kurdistan region is highly reliant on oil revenues, and imports most of its goods and construction needs from neighboring Iran and Turkey.

Kurdistan region considered as the most corrupted part of Iraq. According to Kurdish lawmakers and leaked documents billions of dollars are missing from Iraqi Kurdistan’s oil revenues.

The problem is that the Kurdistan government never releases the results of its audits or lets forensic accountants have unfettered access to its books. In effect, Kurdish leaders use audits more to deflect than elucidate, according to Michael Rubin is a former Pentagon official whose major research areas are the Middle East, Turkey, Iran and diplomacy.

Iraqi Kurdistan-ruling Barzani clan have been routinely accused by critics and observers of neptunism and amassing huge wealth from oil business for the family instead of serving the population. KDP party leader and ex-president Massoud Barzani remains the most powerful leader in the shadow according to analysts. Massoud’s son Masrour is the Kurdistan region’s prime minister and his nephew Nechirvan Barzani is president of Kurdistan.

Iraqi Kurdistan is not a unified region, it is divided politically and geographically between the KDP led by Massoud Barzani and Patriotic Union of Kurdistan PUK party led by the Talabani family. Erbil and Duhok governorates are controlled by the Barzanis and Sulaimani by the Talabanis.

https://ekurd.net/100-million-steel-factory-2021-05-18

 

[Karsten]

And they can afford this State or the Art Steel Plant Capable of Producing 350 Tons of steel Annually......Great and they will make a killing at the Current program Rate.

 

Something is going on over there and I don't believe it is Business as Usual like we have seen in the past 15 years. 

 

Karsten

[yota691]

The region inaugurates one of the largest steel mills in Iraq

•  Time: 05/18/2021 11:26:39
•  
•  Read: 5,161 times

  

{Economical: Al Furat News} The President of the Kurdistan Regional Government, Masrour Barzani, inaugurated this morning the largest factory for the manufacture of iron and steel in the city of Erbil.

 

According to the provincial government statement, Barzani opened the Med Steel plant at 11 am, one of the advanced and large factories at the level of all Iraq.
The cost of the plant is $ 100 million, and its production capacity reaches 350,000 tons of iron and shellman, and it provides job opportunities for 1,000 workers.

Ammar Al-Masoudi
 

[luvalife]

Just what they need for all that new construction that they will be doing.... Nothing but good!!!

I think it is just a matter of time. 

[lmb4321]

I agree luvalife....Have to pay for all these Iraqi Country Improvements with a currency that is not worthless....

Finish this Iraq!!....👍

 

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[gregp]

If Configured for rebar,

1,000 tons = 42 truckloads of rebar per day. 
Now that would help rebuild the country quick.