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Mass Global of Jordan to build steel plant
in Kurdistan
17.3.2010
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March 17, 2010
ERBIL-Hewlęr,
Kurdistan region 'Iraq', — Meed reported that
the Jordan based Mass Global Investment Company is
currently conducting a feasibility study for a new
steel smelter in Iraqi Kurdistan.
The company said that the facility will be located
in the city of Erbil in the semi autonomous
Kurdistan region and have a capacity of 1 million
tonnes per year of steel.
Mr Ahmad Salih chairman of Mass Global said that the
budget for the project is expected to be between USD
250 million to USD 300 million. No funding will be
sought and the whole facility will be paid for on
the company’s balance sheet.
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Mass Global of Jordan to build steel plant in
Kurdistan |
He said that the smelter
will be Mass Global’s first foray into the steel
industry. The project developer is currently
concentrating on the construction of three gas fired
power stations in Iraqi Kurdistan.
Steel demand in both Iraqi Kurdistan and Iraq is
expected to rise as development projects for the
country’s oilfields and subsequent infrastructure
projects are brought online over the next decade.
Copyright, respective author or news agency,
meed com
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