Iran to invest US$35m in new Iraqi plant

Khuzestan province is to invest US$35m in the construction of a cement plant in Al-Emareh, Iraq, announced the province’s Deputy Governor General for Coordinating Economic Affairs, Nourollah Hassandeh.

The project was launched five years ago following talks between Khuzestani and Iraqi officials and is currently in its final stages, reports the Islamic Republic News Agency (IRNA).

"If Khuzestan to be able to provide Iraq with its required raw materials for construction of the cement plant, the Iranian province will share in its turnover," Mr Hassandeh said.

Construction of the plant will prepare the ground for Khuzestan province to increase investment opportunities overseas, he added.