Wassit company needs $38.7m to develop production

BAGHDAD / IraqiNews.com: The Wassit public company for wool industries has agreed on an investment plan until 2011 to develop its laboratories and to increase its production capacity, asserting that the company needs to invest $38.7 million to increase its revenues to $60 million, the Industry Ministry said on Tuesday. “The company has several projects to be implemented in the coming years,” according to a company’s statement received by Iraqi News. Kut, the capital city of Wassit province, lies 180 km southeast of Baghdad . SH (P)/SR 1