Licenses granted for $520m projects in Basra

BASRA / IraqiNews.com: The Basra Investment Commission offered licenses for eight investment projects worth a total of $520 million, according to the commission chief on Sunday. “Varied trade, industrial, housing, agricultural and tourist projects have received licenses after their economic and technical feasibility were proved positive for the province,” said Hayder Ali in statements to Iraqi News. “Seven of these projects went to Iraqi investors while the eighth went to an Iranian,” he added. The oil-rich port city of Basra lies 590 km south of the Iraqi capital Baghdad . AmR (P)/SR 1