By NNN-KUNA,
Irbil : Iraq’s Kurdistan Regional Government (KRG) has announced the establishment of a “Gas City” in northern Iraq, aiming to attract direct foreign investments of over USD 40 million.
A KRG statement Tuesday said construction of the 50 sq km industrial complex was scheduled to start on Sept 21, with Kurdish Regional Premier Nechirvan Barzani to attend the ground-breaking ceremony.
Gas City is a joint enterprise by two United Arab Emirates partner gas and oil companies, Dana Gas PJSC and Crescentnners, and would open up career opportunities for over 200,000 Iraqis, both directly and indirectly.
“The Kurdistan Gas City is an enormous step as we work towards strengthening the Iraqi economy and bettering the livelihoods of the Iraqi people,” said Hamid Jafar, the executive chairman of Dana Gas, in the statement.
Kurdistan’s economy is dominated by oil, agriculture as well as tourism, with the region considered safer than other areas in Iraq.
After the US-led invasion in 2003, the US military declared the three KRG-controlled provinces of Arbil, Sulaymanyah and Dohuh as secure.